US: American Apparel posts sales growth in Q2
US clothing retailer American Apparel saw its comparable store sales increase 14% during its second quarter, as it revealed plans to open as many as 50 stores in the next three years.
Total net sales rose 12% over the quarter ended 30 June to $149.2m, while wholesale net sales climbed 10% during the quarter.
"We are very pleased to report strong sales performance across all distribution channels and geographies and these results again exceeded our expectations," said Dov Charney, chairman and CEO.
"We expect these positive sales trends will continue into the third quarter," the company added.
Meanwhile, total net sales jumped 16% for the month ended 30 June to US$52.1m. Preliminary comparable store sales increased an estimated 19%, while wholesale net sales were up 8%.
American Apparel said it is managing its margins tightly, although favourable cotton prices are tempered by the negative effects of a strengthening US dollar. It also revealed plans to open as many as 50 additional stores over the next three years.
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