American Apparel Grows July Sales
Wholesale Net Sales Helped Drive Increase
Counselor Top 40 supplier American Apparel (asi/35297) reported this week that net sales for July were 14% higher than the same month last year. Wholesale net sales helped drive the increase, rising 7%, according to the preliminary monthly report. Comparable store sales posted an even bigger gain, jumping an estimated 20%.
"We are pleased to announce very strong performance across our retail, wholesale, and online channels," said Dov Charney, American Apparel's CEO. "Our stores are now posting double digit comparative store sales and more than 90% of our stores posted positive comparative results during the month of July. We are confident that our inventory and merchandising strategy is aligned to continue this trend into the back-to-school selling season."
The 7% year-over-year rise in wholesale business continued a trend for American Apparel. In June 2012, sales were 7% better than the same month last year, while May wholesale net sales were 20% improved over the year before. Meanwhile, comparable online sales rose 50% in April, 21% in May, 16% in June and 17% in July. Additionally, comparable store sales were up 21% in June and 16% in May.
As of July 31, American Apparel employed about 10,000 people and had 251 retail stores in 20 countries. This year, American Apparel ranked 16th on Counselor's list of Top 40 suppliers, with reported 2011 North American ad specialty sales of $90.2 million.