American Apparel Inc. Announces Comparable Sales for Quarter Ended September 2013
John Luttrell, CFO, added to Charney's statement:
"I also believe our sales were negatively impacted by weak consumer spending levels across the retail apparel sector. Although the distribution center is now performing better from a shipping point of view, we have experienced, and may continue to incur, higher than expected distribution center labor costs. In addition, if there are any further transition issues associated with the new center or if apparel sector spending is soft in the fourth quarter, our sales and financial results could be negatively impacted. However, we have recently seen week-over-week reductions in distribution labor costs, and we believe we will continue to reduce labor costs during the fourth quarter. Although we are disappointed with the additional costs and reduced sales caused by the distributions center transition, we continue to believe we will benefit in the future from our decision to invest in the new center."
- Companies:
- American Apparel