"I am very encouraged by the sales performance of the Company," stated
The following delineates the components of the estimated increases for
| January | December | November | October | |||||||||
| Same Store Sales | 11% | 11% | 7% | 3% | ||||||||
| Online Sales | 39% | 21% | 38% | 4% | ||||||||
| Comparable Retail & Online | 15% | 12% | 10% | 3% | ||||||||
| Wholesale Net Sales | 21% | 25% | 6% | 5% | ||||||||
Monthly Sales Reporting
The Company also indicated today it will report monthly sales for the balance of 2012 in order to provide more timely insight into its performance.
About
Safe Harbor Statement
This press release, and other statements that the Company may make, may
contain forward-looking statements. Forward-looking statements are
statements that are not historical facts and include statements
regarding, among other things, the Company's future financial condition,
results of operations and plans and the Company's prospects and
strategies for future growth and cost savings. Such forward-looking
statements are based upon the current beliefs and expectations of
American Apparel's management, but are subject to risks and
uncertainties, which could cause actual results and/or the timing of
events to differ materially from those set forth in the forward-looking
statements, including, among others: the ability to generate or obtain
from external sources sufficient liquidity for operations and debt
service; changes in the level of consumer spending or preferences or
demand for the Company's products; increasing competition, both in the
U.S. and internationally; the evolving nature of the Company's business;
the Company's ability to hire and retain key personnel and the Company's
relationship with its employees; suitable store locations and the
Company's ability to attract customers to its stores; the availability
of store locations at appropriate terms and the Company's ability to
identify and negotiate new store locations effectively and to open new
stores and expand internationally; effectively carrying out and managing
the Company's strategy, including growth and expansion both in the U.S.
and internationally; disruptions in the global financial markets;
failure to maintain the value and image of the Company's brand and
protect its intellectual property rights; declines in comparable store
sales and wholesale revenues; financial nonperformance by the Company's
wholesale customers; the adoption of new accounting pronouncements or
changes in interpretations of accounting principles; seasonality of the
business; consequences of the Company's significant indebtedness,
including the Company's relationships with its lenders and the Company's
ability to comply with its debt agreements, including the risk of
acceleration of borrowings there under as a result of noncompliance; the
Company's ability to generate cash flow to service its debt; the
Company's ability to extend, renew or refinance its existing debt; the
Company's liquidity and losses from operations and related impact on the
Company's ability to continue as a going concern; the Company's ability
to develop and implement plans to improve its operations and financial
position; costs of materials and labor, including increases in the price
of yarn and the cost of certain related fabrics; the Company's ability
to pass on the added cost of raw materials to its wholesale and retail
customers; the Company's ability to improve manufacturing efficiency at
its production facilities; the Company's ability to effectively manage
inventory and inventory reserves; location of the Company's facilities
in the same geographic area; manufacturing, supply or distribution
difficulties or disruptions; risks of financial nonperformance by
customers; investigations, enforcement actions and litigation, including
exposure from which could exceed expectations; compliance with or
changes in U.S. and foreign government laws and regulations, legislation
and regulatory environments, including environmental, immigration, labor
and occupational health and safety laws and regulations; costs as a
result of operating as a public company; material weaknesses in internal
controls; interest rate and foreign currency risks; loss of U.S. import
protections or changes in duties, tariffs and quotas and other risks
associated with international business including disruption of markets
and foreign supply sources and changes in import and export laws;
technological changes in manufacturing, wholesaling, or retailing; the
Company's ability to upgrade its information technology infrastructure
and other risks associated with the systems that are used to operate the
Company's online retail operations and manage the Company's other
operations; adverse changes in its credit ratings and any related impact
on financing costs and structure; general economic and industry
conditions, including U.S. and worldwide economic conditions;
disruptions due to severe weather or climate change; and other risks
detailed in the Company's filings with the
Chief
Financial Officer
or
ICR
john.rouleau@icrinc.com
Source:
News Provided by Acquire Media
