American Apparel Inc, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced financial results for its second quarter ended June 30, 2011.
"We are pleased to see improving sales trends with a comparable store sales increase of 3% in June followed by a 4% increase in July. I believe that our stores look better than ever and our sales improvements were achieved at normal margins," said Dov Charney, chairman and CEO, American Apparel. "Consolidated Adjusted EBITDA production at $3.7 million for the quarter resulted primarily from improving manufacturing efficiency that more than offset higher yarn prices.
