American Apparel Inc, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced preliminary sales for the month and quarter ended March 31, 2012. The Company reported that for the month ended March 31, 2012, total net sales increased 15% to $49.0 million when compared to the month ended March 31, 2011.
Between the same periods, comparable store sales on a preliminary basis increased an estimated 21% and wholesale net sales increased an estimated 10%. For the quarter ended March 31, 2012, total net sales increased an estimated 14% to $132.7 million, comparable store sales increased an estimated 15% and wholesale net sales increased an estimated 17%.
"We are very pleased to report strong sales performance in March across all three distribution channels and these results substantially exceeded our expectations," stated Dov Charney, Chairman and CEO.
"Careful planning to our inventory commitments, merchandising strategy, and product assortment helped to drive our continued momentum. I would like to take this opportunity to reaffirm our guidance for EBITDA of $32 million to $40 million for 2012. As such, we believe we will be in a position to refinance elements of our higher cost capital structure and significantly reduce our interest expense by late 2012 or early 2013."
American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California.
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