Friday, August 19, 2022

American Apparel total sales up 12% in Q2

Youth fashion retailer American Apparel has today announced a total sales increase of 12 per cent to $149.2 million (£96.1 million) for its second quarter.

For the quarter ended 30th June 2012, like-for-like (LFL) sales rose 14 per cent while LFL retail and online sales jumped 16 per cent over the period.

Last year, the US-based firm opened a new store at Westfield Stratford City as it continued to focus on expanding its international portfolio and a statement from the group explained its ongoing strategy.

“As we continue to raise store productivity levels, we will begin to examine opening additional stores, and believe we could be in a position to open as many as 50 additional stores over the next three years,” the statement said.

In the month of June, total sales also increased 16 per cent compared to the same month last year, standing at $52.1 million, while LFL sales soared by 19 per cent.

Last year, the retailer was saved from near bankruptcy by private investors, highlighting the extent of the turnaround, which was welcomed by Dov Charney, Chairman and CEO of American Apparel.

“We are very pleased to report strong sales performance across all distribution channels and geographies and these results again exceeded our expectations,” he said.

“In the month of June 2012, more merchandise was sold to customers than for any June in our history. On a per store basis, annualized June 2012 in-store sales are trending only 8 per cent less than the historic high set in 2008 and we think we can surpass that historic level within the next 12 to 18 months.”


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