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Gross margin for the year ending December 31, 2008 was 54.9 percent versus 55.7 percent for the year ended December 31, 2007, including the impact of a $13.2 million stock-based compensation expense booked to cost of sales in 2008 related to the grant of 1.9 million shares of stock to manufacturing workers pursuant to the merger agreement between Endeavor Acquisition Corp. and American Apparel Inc.. The stock based compensation expense negatively impacted 2008 gross margin by approximately 240 basis points. Gross margin was favorably impacted by the growth in retail sales from expansion of the U.S. retail, Canada and international business segments, which generate a higher gross margin than the company's U.S. Wholesale business segment.
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- Companies:
- American Apparel
- Places:
- Los Angeles
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