American Apparel reports improved third-quarter results
For the three months ended Sept. 30, the company reported that third-quarter sales rose 5% to $141 million compared with the same quarter a year ago. At stores open at least a year -- an important measure of a retailer's health because it excludes store openings and closings -- sales were up 3%.
"Comparable-store sales were positive in both our store and online channels and we saw a return to solid sales growth in our wholesale channel," Chief Executive Dov Charney said in a statement. "As we enter what is historically our strongest quarter of the year, we are optimistic that if current sales trends continue, we will continue to see substantial improvement in our overall financial performance."
American Apparel did not release its profit or other financial results. At 8:15 a.m. Pacific time Thursday, American Apparel's stock was unchanged at 75 cents.
-- Andrea Chang
Photo: American Apparel CEO Dov Charney. Credit: Bloomberg