×
51 769
Fashion Jobs
ADIDAS
Senior Manager Buying (Concept Stores)
Permanent · Portland
NEW BALANCE
Loss Prevention Officer (Day Shift)
Permanent · Skowhegan
L'OREAL GROUP
Mgr/sr Manager-Demand Planner
Permanent · Newport Beach
L'OREAL GROUP
Kiehl's Since 1851 - Director of Ecommerce
Permanent · New York
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Troy, mi
Permanent · Troy
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
OLD NAVY
Assistant General Manager, Merchandising - Bradford Plaza
Permanent · Stillwater
Published
May 13, 2015
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

American Apparel reports losses in Q1 and new "at-the-market" offering programme

Published
May 13, 2015

Los Angeles-based company American Apparel on Tuesday announced its first quarter 2015 results ending on March 31st, 2015. The company reported a decrease in sales, gross profit and a net loss for the quarter.


Net sales for the first quarter of 2015 decreased 9% to 124.3 million from 137.1 million for the same period in 2014. Excluding the year over year impact from foreign exchange and stores closed in 2014, net sales decreased 4% for the same period in 2014. First quarter comparable store sales were negative 5% for both the first quarter of 2015 and 2014.

Gross profit for the first quarter of 2015 decreased 34% to $47.5 million from $72 million for the same period in 2014. This was due to discounts related to management’s strategic initiative to reduce inventory levels by accelerating the sale of slow-moving inventory, the foreign exchange impact of the strengthening US dollar and lower retail sales.

Net loss for the first quarter of 2015 was $26.4 million, compared to net loss of $5.5 million for the first quarter of 2014. Results for the first quarter of 2015 include $9.5 million related to significant charges.

In a separate release published on the heels of its Q1 results, the company also announced that it has commenced a $10.0 million "at-the-market" offering program. Through the program, American Apparel may offer to sell its shares of stock at an aggregated sales price of up to $10 million through Cowen and Company, LLC, which will serve as a sales agent. The net proceeds of the sale will be used as working capital and general corporate purposes. 

Copyright © 2021 FashionNetwork.com All rights reserved.