MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
LOS ANGELES--(BUSINESS WIRE)-- American Apparel, Inc. (NYSE Amex: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, provided an update today related to December 2011 sales in anticipation of its presentation at the ICR Xchange Conference on January 12, 2012.
The Company reported today that for the month of December, 2011 total net sales increased 15% to $56.3 million. For the same period, comparable store sales increased 12% and wholesale net sales increased 25%.
“In December, we continued to build momentum in our business,” said Dov Charney, Chairman and CEO. “Our sales exceeded plan in all channels and we saw good progress in our wholesale channel across a broad spectrum of customers. Our retail sales increases were also broad based with notably large increases in the US, in all Asian markets, and in Australia. Our product is resonating well with our customers both in stores and online. During the quarter we opened three new stores in the UK, including one in Westfield, London and two store-in-store locations at the venerable Selfridges department store chain. We are excited about our progress in 2011 and expect to build on our recent successes in the coming year.”
Participation in The 14th Annual ICR Xchange Conference
Separately, the company announced that John Luttrell, Chief Financial Officer, will present at the 14th Annual ICR XChange Conference on Thursday, January 12, 2012 at 2:00 p.m. ET at The Fontainebleau Hotel in Miami Beach. The audio portion of the presentation will be webcast live at www.americanapparel.net under the Investor Relations section. An archived replay will be available two hours after the conclusion of the live event.
About American Apparel
American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of December 31, 2011, American Apparel had approximately 10,000 employees and operated 249 retail stores in 20 countries, including the United States, Canada, Mexico, Brazil, United Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan, South Korea, and China. American Apparel also operates a leading wholesale business that supplies high quality T-shirts and other casual wear to distributors and screen printers. In addition to its retail stores and wholesale operations, American Apparel operates an online retail e-commerce website at http://www.americanapparel.net.