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.
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?"