USA – The textile specialist, American Apparel, which is based in Los Angeles, has presented its results for the first quarter of 2014. According to which the turnover increased by 1% up to 137.1 mil. US dollars (approx. 100 mil. euros) compared to the same period in 2013. The turnover in the company’s own shops fell by 7%, whereas a 7% increase was achieved in the wholesale sector compared to the previous year. In spite of a weak start in the retail business, Dov Charney, CEO of American Apparel, is optimistic about the 2014 revenues, because the operating costs have been reduced by 5%.
American Apparel was recently a hot topic of conversation in March, when the Swiss investment fund company, FiveT Capital Holding purchased 20 million newly issued shares of the heavily endebted textile manufacturer. American Apparel issued the shares in a bid to raise new capital to finance a turn-around.