American Apparel net sales decrease 5 percent in Q3

REPORT_ American Apparel net sales for the third quarter of 2014 decreased 8.7 million dollars, or 5 percent, compared to the same period in 2013. Lower retail and online sales were partially offset by increased wholesale sales. Comparable retail and online sales decreased by 7 percent and 5 percent, respectively, while wholesale sales increased by 2 percent over the same period in 2013.

Gross profit for the third quarter of 2014 decreased 2 percent to 82.5 million dollars from 84.6 million dollars for the same period in 2013, primarily due to the lower retail and online sales volume. Gross profit, excluding unusual and non-recurring expenses increased to 53.5 percent of net sales in the third quarter of 2014 from 52.2 percent in the third quarter of 2013.

Net loss for the third quarter was 19.2 million dollars or 0.11 dollars per share, compared to net loss of 1.5 million dollars, or 0.01 dollars per share for the third quarter of 2013. The company reaffirms previously issued guidance that adjusted EBITDA will be in the range of 40 million dollars to 45 million dollars for the twelve months ending December 31, 2014.