By  on August 12, 2013

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.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus