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According to numerous reports, retail clothing company American Apparel is planning on closing a number of locations nationwide and could be looking at a large amount of layoffs in the coming months. In a statement released this week, the company explained that this needed plan will help cut costs of around $30 million, though no official number for stores being closed nor employees being fired have been released to the media. Read more on this sad fashion news below. Read More »
After two quarters of flat sales growth, American Apparel took a small nosedive in the third quarter of 2014, which wrapped up on September 30. In those three months, net sales dropped 5 percent, coming in at $155.9 million as compared to $164.5 million at the same time last year. Total net loss for the quarter was $19.2 million, compared with a net loss of $1.5 million loss the same quarter last year. Read More »
