Shares of American Apparel Inc. spiked nearly 30 percent in after-hours trading Wednesday after the company reported a 20 percent increase in March same-store sales.
The Los Angeles-based vertical casual apparel retailer also reaffirmed its guidance for full-year adjusted earnings before interest, taxes, depreciation and amortization of between $32 million and $40 million for fiscal 2012. “As such, we believe we will be in a position to refinance elements of our higher cost capital structure and significantly reduce our interest expense by late 2012 or early 2013,” said Dov Charney, chairman and chief executive officer of the debt-encumbered company.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)