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American Apparel: Million losses

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USA – After dismissing their CEO, Dov Charney, the new management of American Apparel is encountering further serious problems: Due to the internal reorganisation of the fashion company, the label was not able to present the business figures for the second quarter punctually. In a mandatory notice to the supervisory body of the US stock exchange, the new management has now announced a few interim figures – instead of a detailed financial report. According to the figures released, the net loss in the second fiscal quarter amounted to 15 mil. US dollars (approx. 11.2 mil. euros). Remaining stable at 162 mil. US dollars (approx. 121 mil. euros), the turnover failed to match the market expectations. After the close of trading, the shares fell by over 6%, after already having lost over two thirds of their value last year.

www.americanapparel.net

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2016-10-21T14:22:48+00:00 August 19th, 2014|