American Apparel, Inc. Reports Third Quarter Financial Results.

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American Apparel, Inc. Reports Third Quarter Financial Results.

LOS ANGELES -- American Apparel, Inc. (NYSE Amex: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced financial results for its third quarter ended September 30, 2011.

Comparing the 2011 third quarter to the corresponding period last year, the Company reported that:

* Net sales increased 5% to $140.9 million on a 3% increase in comparable store sales in the retail business and a 10% increase in net sales in the wholesale business;

* Gross profit of $75.0 million increased 7% or $4.8 million in this year's third quarter;

* Consolidated Adjusted EBITDA increased to $6.4 million vs. a loss of $0.8 million in last year's third quarter;

* Loss per common share of $0.07 vs. a loss per common share of $0.13 in the prior year third quarter.

"I am encouraged by the improvement in our third quarter financial performance and continued momentum of our business," said Dov Charney, Chairman and CEO of American Apparel, Inc. "In the month of October, we saw strong sales in the U.S., Asia, Australia and Europe markets. For the year, we have also seen record sales in our online channel. With the combination of improving sales, a reduction in raw materi...

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