American Apparel Inc.’s second-quarter sales showed some pep, with comparable revenues up 7 percent, but the firm’s bottom line was bogged down by supply chain tweaks and charges associated with its refinancing.
Net losses widened in the second quarter to $37.5 million, or 34 cents a share, from $15.3 million, or 14 cents, a year earlier. The company recorded charges of $32.1 million resulting from its April refinancing, which allowed the firm to repay a loan from Lion Capital. The quarter was also weighed down by $2.9 million in costs associated with steps taken to improve supply chain operations, including a move to a new distribution center.
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)