American Apparel, Inc. Announces Comparable Store Sales Increased 19% Through May 26, 2012
American Apparel, Inc. (NYSE: APP) announced preliminary comparable sales for the period May 1, 2012 through May 26, 2012. The Company reported that for the period May 1, 2012 to May 26, 2012, comparable store sales increased 19%, including a 19% increase in comparables store sales for its retail store channel and an 18% increase in net sales for its online channel. The Company will announce full month comparable sales, wholesale net sales and total net sales for the month ended May 31, 2012 on Thursday, June 7, 2012 after the stock market closes.
“May will represent our 12th consecutive month of positive comparable sales, and I am particularly pleased with the strength of retail store sales,” said Dov Charney, Chairman and Chief Executive of American Apparel, Inc. “Store performance built steadily week over week and that trajectory gives us increased confidence about sales trends as we move into the summer months.”
Recent improvements in store productivity have brought average store sales to within 15% of the historical 2008 high of $1.74 million. Productivity improvements are immediately leveraged in EBITDA and, as such, the Company reaffirms its 2012 EBITDA guidance of $32 to $40 million.
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