Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Total sales remained flat at about $132 million.
American Apparel Inc. won’t release its total second quarter earnings for another few weeks, but some preliminary numbers show a strong increase in online sales.
For the second quarter ended June 30, American Apparel, No. 273 in the Internet Retailer Top 500, reported:
- Online sales increased 19%. Based on that percentage and other e-commerce data included in earlier financial reports, Internet Retailer calculates that e-commerce revenue grew year over year to about $20 million from $16.8 million.
- Total sales remained flat at about $132 million.
- Comparable-store sales were up 3%.
- The company didn’t release any preliminary figures for net income.
"We are pleased with recent sales momentum,” says CEO Dov Charney. Internet Retailer calculates the web accounted for about 15.2% of sales compared with about 12.7% in the second quarter of 2010.
Based on e-commerce metrics filed in earlier financial reports, Internet Retailer for the first two quarters calculates:
- Web sales increased 22% to $30 million from around $24.6 million in the first six months of 2010.
- Total sales declined year over year 2.2% to $248.1 million from $253.8 million in the first six months of 2010.
Internet Retailer calculates the web accounted for about 12.1% of sales compared with about 9.7% in the second quarter of 2010.