American Apparel Reports Q2 Gains
Revenues Soared 16%
Wholesale business at American Apparel (asi/35297) soared in the second quarter, rising 16%, the Counselor Top 40 supplier announced this week. The strong performance in the wholesale channel – which includes sales to the ad specialty and apparel decorating industry – was indicative of American Apparel's overall improved revenues last quarter. During the period, total net sales climbed 9% to $162.2 million, with comparable store sales increasing 7%. "Sales growth was across a broad range of product categories and demonstrates the strength of our summer product offering," said Dov Charney, CEO of American Apparel.
The second-quarter sales surge was helped along by good June revenues. The Los Angeles-based manufacturer said total net sales last month rose to $55.9 million, a 7% increase over June of 2012. Comparable sales at American Apparel for June of 2013 increased 7%, including a 5% rise in comparable store sales in its retail store channel and a 22% increase in net sales in its online channel. Wholesale net sales increased 16% for the month.
"June represents our 25th consecutive month of positive comparable store sales growth," said Charney. "Thus far, July sales are solidly positive in our retail and online channels, and we expect a meaningful increase in our wholesale net sales this month when compared to the prior year."
Ranked by Counselor as the industry's 14th largest supplier, American Apparel reported 2012 North American ad specialty sales of $96.8 million, a 7.3% year-over-year gain.