Summer Heats up American Apparel SalesTuesday, July 9, 2013
Clothing maker American Apparel announced Tuesday that sales were up last month due to strong demand for summer wear.
The Downtown L.A. company had revenue of $56 million in June, up 7 percent from $52 million in June 2012.
The largest increase came from online purchases, up 22 percent. Wholesale revenue was up 16 percent. Physical store sales were up 5 percent.
Chief Executive Dov Charney noted the company was continuing a favorable trend.
“June represents our 25th consecutive month of positive comparable store sales growth,” Charney said in a statement. “I am excited with the 7 percent increase in comparable store sales in June.”
The company also announced Tuesday that it secured a new lender, Bank of Montreal, and increased its revolving credit facility from $35 million to $50 million.
American Apparel shares were up 5 cents, or 2.6 percent, in midday trading on the New York Stock Exchange.