American Apparel Turns A Profit
American Apparel has, unfortunately, been through years of financial struggle. Their business is a great idea, you know, making their products in America, and selling them in America, etc — but unfortunately, the company was not going about that process in the right way.
Finally, American Apparel has turned a profit in their fourth quarter. The quarter produced $4.9 million in net income and diluted shares went up four cents. Sales went up 9.8%, including a 42% increase in online sales.
The cause in this financial jump? An improvement in solid growth and continuing momentum in all business segments and almost all major geographies.
The company is slightly improving, but will it be enough to keep the basic clothing collections in retail?
Ally | Elite.
Photo Credit: Getty Images
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