GFW Fashion Insight: American Apparel (AMEX:APP) Announce Improved Financial Results and Extension of ASOS Partnership

Sydney, Aug 10, 2011 (Global Fashion Wire) - American Apparel (AMEX:APP) have announced improved second quarter financial results and the extension of its existing partnership with the global e-commerce sensation ASOS, a UK-based fashion site. Internet sales for the brand increased by 23%, Gross margin was up 2.9% and loss per common share was $0.00 vs $0.21. Chairman and CEO Dov Charney commented that American Apparel were pleased to see improving sales trends, stores were looking better than ever and sales improvements achieved at normal margins.

American Apparel have also expressed its intent to ramp up its new distribution and sales channels, including the extension of the existing ASOS partnership. ASOS with over 3.7 million members, have expanded its purchase order of American Apparel products based on a 100% sell-through rate of a 'test buy' earlier this year.
 
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