A noncash item drove losses deeper at American Apparel Inc. in the first quarter ended March 31, historically the company’s weakest earnings period. The Los Angeles-based vertical retailer posted a net loss of $46.5 million, or 42 cents a diluted share, compared with a net loss of $7.9 million, or 7 cents, in the year-ago quarter.
Net sales in the quarter increased 4.1 percent to $138.1 million, up from $132.7 million a year ago. Comparable-store sales improved 8 percent, including e-commerce, and wholesale sales inched up 1 percent.
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)