American Apparel Reports Q1 Sales Gains
Follows 14% Annual Increase For 2012
Counselor Top 40 supplier American Apparel (asi/35297) reported last week that first quarter total net sales increased by 5%, following a 14% annual spike for the whole of 2012. During the first three months of this year, American Apparel's wholesale net sales – which include the ad specialty industry – rose by 2%. Meanwhile, comparable store sales in its retail segment grew by 5% and online sales increased by 24%.
"I'm excited by our sales results as well as our prospects for the second, third and fourth quarters of this year," said Dov Charney, American Apparel's CEO. “Customer demand and our product assortment are strong as we continue to enhance the customer experience in our retail and online channels.”
In March, total net sales ticked upward by 2%, with online sales jumping 26% and comparable store sales accelerating by 5%, according to the supplier. The only downside was that its wholesale business decreased in March by 7% compared with the same month the previous year. Still, American Apparel attributes that primarily to the fact that there was one less shipping day in March 2013 than March 2012. "March represents our 22nd consecutive month of positive comparable store growth," says Charney.