- Remembering Mandela
- Initiative in Art and Culture Kicks Off in New York
- Ralph Pucci Opens Miami Showroom
AMERICAN APPAREL ON THE REBOUND: American Apparel Inc. continues to show sales gains and is expected to report today an 11 percent increase in same-store sales for the month of January. Online sales rose 39 percent in the month and wholesale sales jumped 21 percent, for a total sales increase of 14 percent to $41.4 million. Same-store sales have been on an upswing since September.
“We are managing the assortments on the store floors more precisely, making sure managers adhere to standards and we don’t have the distractions — like labor issues at our factory — that we had in previous years,” said Dov Charney, chairman and chief executive officer of the Los Angeles-based retailer. The company is in negotiations for new financing deal to help assuage its massive debt load, which could be finalized in a few weeks, said sources.