American Apparel Inc. Reports Second Quarter 2012 Financial Results and Raises EBITDA Outlook for 2012
The Company has reported double digit comparable store sales growth each month since November of 2011. For the month of August, the Company expects that comparable store sales will increase in the upper teen to low twenty percent range and it estimates the percent increase in net sales will be in the 10 to 15 percent range versus the prior year. Accordingly, the Company is raising its adjusted EBITDA guidance for 2012 to between $36 to $44 million from the prior estimate of $32 to $40 million.
For the full release, visit American Apparel's website.
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