Numbers from the second quarter are not finalized yet, but it’s not looking too hot for American Apparel.
Their corporate and branding struggles have been no secret over the past year: Ousting founder Dov Charney in June, reworking their Board of Directors and owing $10 million to Standard General LP for a loan. All this has undoubtably shown in sales.
According to Fashionista.com, a preliminary report shows a loss of $15 million in just three months– not good, but better than last year’s $38 million this same time.
The fashion publication reports:
In total, American Apparel’s net loss for the last two quarters is an estimated $21 million, which stacks up against $84 million the year prior.
Sales for the quarter came in at $162 million, which American Apparel says is “essentially unchanged” from 2013. The last six months, meanwhile, brought in $299 million in net sales, the same as last year.
As we said before, we’ll be stocking up on apparel from the retailer just in case this ride stops short.