American Apparel reports disappointing third-quarter earnings
Troubled Los Angeles clothing maker American Apparel Inc. reported double-digit sales declines and a $9.5-million quarterly loss Tuesday and warned that it had “substantial doubt” about its viability going forward.
In a continuing effort to turn itself around, the company announced several aggressive efforts to cut costs. It said it might have to close some stores, reduce manufacturing production levels, renegotiate real estate leases and reevaluate staffing levels.
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-- Andrea Chang