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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"