(Filed Under Financial and General Interest News). For the third quarter ended September 30, 2009, American Apparel, Inc. posted a 2.9 percent decrease in net sales totaling at $150.3 million, beating estimates of $145.5 million, according to Thomas Reuters. Retail sales increased 3.7 percent to $101 million, but comparable store sales declined 16 percent. Wholesale sales dropped 14.5 percent. Online consumer sales declined 12.5 percent. American Apparel continues to expect its full-year net sales to range from $540 to $555 million.
The company managed to post an income of $4.2 million, or 5 cents per diluted share, compared to $2.3 million, or 3 cents per diluted share, during last year’s comparable period.
As of October 31, 2009, American Apparel employed approximately 9,700 people and operated over 275 retail stores in 20 countries. For further information, contact Adrian Kowalewski, chief financial officer for the company: (213) 488-0226.
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