American Apparel Inc. late Tuesday issued preliminary results for the second quarter and first half in which it reported smaller losses despite lower margins.
In the three months ended June 30, the Los Angeles-based vertical retailer had a net loss of $15 million, or about 9 cents per diluted share, below the $38 million, or 34-cent, loss registered during the second quarter of 2013. Income from operations swung to a profit of about $4 million from a loss of $2 million in the comparable period last year. Operating expenses declined 8.1 percent to an estimated $79 million, or 48.8 percent of sales, from about $86 million, or 53.1 percent, in the prior-year period.
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