American Apparel sales up in April
LOS ANGELES (AP) — American Apparel Inc. said Thursday that its sales in stores and to wholesalers improved in April, while online sales fell.
The Los Angeles-based clothing chain said that its total revenue increased 4 percent year-over-year to $49.8 million.
Its revenue from stores open at least a year, which is considered a key indicator of performance as it strips out recently opened and closed sites, increased 3 percent. That included a 4 percent increase in its retail stores and a 2 percent increase online.
The company's wholesale net sales increased 7 percent.
American Apparel Chairman and CEO Dov Charney said the decrease in Internet sales was due to a shift of timing of some promotions, which will end up benefiting its May results. He said better weather and a strong summer offering helped the company's results.
The company operates 248 stores around the globe.
Despite the gains in April, the company's shares sank Thursday after the company said Wednesday that it had another quarterly loss for the period that ended in March.
Shares sank 16 cents, a nearly 8 percent decline, to $1.88 by midday.