Published:
CORRECTING and REPLACING American Apparel Reports October 2009 Comparable Store Sales
LOS ANGELES - (BUSINESS WIRE) - Third graph of release should read: American Apparel opened a total of
two new retail stores during the month of October at Oakbrook Center in
Oak Brook, Illinois, and in Victoria, British Columbia (sted xxx month
of August).
The corrected release reads:
AMERICAN APPAREL REPORTS OCTOBER 2009 COMPARABLE STORE SALES
-
October 2009 Comparable Store Sales Decreased 6%
American Apparel, Inc. (NYSE Amex: APP) today announced the company's
comparable store sales for the month of October 2009.
American Apparel reported that for the month of October 2009, sales for
stores open for more than twelve months decreased 6% over the year ago
period, on a constant currency basis. For the month of October 2008,
comparable store sales increased 22%. There were 214 stores in the sales
comparison for October 2009.
American Apparel opened a total of two new retail stores during the
month of October at Oakbrook Center in Oak Brook, Illinois, and in
Victoria, British Columbia.
About American Apparel
American Apparel is a vertically integrated manufacturer, distributor,
and retailer of branded fashion basic apparel based in downtown Los
Angeles, California. As of October 31, 2009, American Apparel employed
over 9,700 people and operated more than 275 retail stores in 20
countries, including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan, South
Korea, and China. American Apparel also operates a leading wholesale
business that supplies high quality T-shirts and other casual wear to
distributors and screen printers. In addition to its retail stores and
wholesale operations, American Apparel operates an online retail
e-commerce website at http://www.americanapparel.com.
Safe Harbor Statement
This press release may contain forward-looking statements which are
based upon the current beliefs and expectations of our management, but
are subject to risks and uncertainties, which could cause actual results
and/or the timing of events to differ materially from those set forth in
the forward-looking statements, including, among others: changes in the
level of consumer spending or preferences or demand for our products;
increasing competition; our ability to hire and retain key personnel and
our relationship with our employees; suitable store locations and our
ability to attract customers to our stores; effectively carrying out and
managing our growth strategy; failure to maintain the value and image of
our brand and protect our intellectual property rights; declines in
comparable store sales; seasonality; consequences of our significant
indebtedness, including our ability to comply with our debt agreements,
generate cash flow to service our debt; our ability to extend, renew or
refinance our existing debt; costs of materials and labor; location of
our facilities in the same geographic area; manufacturing, supply or
distribution difficulties or disruptions; risks of financial
nonperformance by customers; investigations, enforcement actions and
litigation; compliance with or changes in laws and regulations; costs as
a result of operating as a public company; material weaknesses in
internal controls; interest rate and foreign currency risks; loss of
U.S. import protections or changes in duties, tariffs and quotas and
other risks associated with international business; our ability to
upgrade our information technology infrastructure and other risks
associated with the systems that operate our online retail operations;
general economic and industry conditions, including worsening U.S. and
foreign economic conditions and turmoil in the financial markets; and
other risks detailed in our filings with the Securities and Exchange
Commission, including our 2008 Annual Report on Form 10-K. Our filings
with the SEC are available at www.sec.gov.
You are urged to consider these factors carefully in evaluating the
forward-looking statements herein and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by this cautionary statement. The forward-looking
statements speak only as of the date on which they are made and the
company undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
ICR
Joseph Teklits / Jean Fontana
203-682-8200
or
American
Apparel
Adrian Kowalewski, 213-488-0226
Chief Financial Officer
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