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American Apparel reports a 5.5% web sales decline for Q1 2009
Consumer brand manufacturer American Apparel reported web sales of $8.15 million in the first quarter 2009, a 5.5% decrease compared with $8.62 million for the prior year quarter. Comparable store sales declined 7% in Q1.
Consumer brand manufacturer American Apparel Inc. reported web sales of $8.15 million in the first quarter 2009, a 5.5% decrease compared with $8.62 million for the prior year quarter. Total sales in Q1 increased by 2.4% to $114.3 million from $111.6 million in Q1 of 2008. Total retail sales increased about 16.4% to $78 million for the first quarter of 2009 versus $67 million for the same period in 2008, according to the company’s quarterly financial statement. The web represented 7% of sales for the first quarter ended March 31, 2009.
Comparable store sales declined 7% in Q1 2009.
U.S. online sales for Q1 2009 were $4.9 million, down by 12.5% from $5.6 million year over year. Web sales in Canada were $366,000, down 8.5% from $400,000 in the first quarter of 2008. International web sales from 17 countries were $2.9 million in Q1 2009, up by 11.5% from $2.6 million in the prior year period.
American Apparel, No. 236 in the Internet Retailer Top 500 Guide, ended the recent quarter with 264 stores, adding four net new stores in the period. The company operated 186 stores at the end of the first quarter of 2008.
Combined wholesale and retail sales for the first quarter of 2009 were $106.1 million, up by 3% from $103 million in Q1 2008. The web represented about 7.7% of wholesale and retail sales for the recent quarter compared with 8.4% in the same period last year.
Net loss for the first quarter of 2009 was $9 million, compared with net income for the first quarter of 2008 of $1.1 million.