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American Apparel, Inc. (NYSE Amex: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced preliminary sales for the month ended January 31, 2012.
The Company reported that for the month of January 2012, total net sales increased 14% to $41.4 million. For the same period, comparable store sales increased an estimated 15% on an estimated 11% increase at retail stores and an estimated 39% increase in online sales. For the month wholesale net sales increased an estimated 21%.
“I am very encouraged by the sales performance of the Company,” stated Dov Charney, Chairman and CEO. “Since September 2011, we have had positive retail same store sales, and for the months of November, December and January, our imprintable wholesale sales levels have been running at record levels beyond the previous highs set for those months in 2008. Higher sales running through our three sales channels, retail, online, and imprintable wholesale allow for us to improve operational efficiencies at the factory, as well as leverage corporate costs, thereby improving prospects for our long term profitability,” added Charney.
Monthly Sales Reporting
The Company also indicated today it will report monthly sales for the balance of 2012 in order to provide more timely insight into its performance.
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 January 31, 2012, 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.