Here’s something interesting in the retail world. When most retailers are reporting a single digit decrease in same-store sales for March 2008, American Apparel posted a 28.7% increase in comparable store sales. The company’s first quarter comp store sales increased 37.5%. So what does that mean? Is “disposable fashion” really making that big of a push? Or is it that semi-creepy, eerily sexy ads make people want to buy T-shirts..and leggings?
Here’s The Release:
LOS ANGELES–American Apparel, Inc. (Amex: APP) today announced the company’s comparable retail store sales for the month of March 2008 and for the first quarter ended March 31, 2008.
American Apparel reported that for the month of March 2008, sales for stores open for more than twelve months increased 28.7% over the year ago period. In March 2007, comparable store sales increased 25% versus March 2006. There were a total of 140 stores in the sales comparison for March 2008.
For the first quarter ended March 31, 2008, comparable store sales increased 37.5% over the year ago period. For the first quarter ended March 31, 2007, comparable store sales increased 17%.
American Apparel also reported that it opened six new retail store locations in the first quarter: Mannheim, Germany; Antwerp, Belgium; Melbourne, Australia; Chung Dam, South Korea; Dae Hak Ro, South Korea; and King of Prussia Mall, Pennsylvania. During the first quarter, the company closed one retail location.
American Apparel expects to report its first quarter 2008 financial results by Monday, May 12, 2008. The company will give further information regarding the timing of a conference call to discuss its first quarter financial results at a later date.