American Apparel Reports Improved Monthly Retail Performance
Los Angeles–based vertical retailer and manufacturer American Apparel reported an uptick in retail sales for the fourth quarter of 2011. Comp-store sales increased 10 percent in November, including a 7 percent rise in sales at retail outlets and a 32 percent increase in online sales, according to the company. Last month, the company reported a 4 percent increase in comp-store sales in October.
As of Nov., 30, the company reported a 6 percent increase in comp-store sales for the quarter to date, which includes a 5 percent increase in comp-store sales at retail and a 16 percent increase in online sales. Wholesale net sales were flat for the quarter, which, the company said, is “substantially in line with management’s expectations.” Overall, total net sales increased 7 percent for the year to date ending Nov. 30.
“We are pleased with the momentum that is building in our core businesses,” said Dov Charney, chairman and chief executive officer. “Our retail channels, both in store and online, are seeing sales growth indicating a revitalized connection to our customer. We are excited about this trend; we feel it is long lasting, and it is one we can meaningfully build upon. Other positive signs include improved efficiency at our manufacturing facilities, stabilization of world cotton prices and improved profitability at our average retail store.”
