American Apparel (APP) Jan. Comps Fell 5%

American Apparel, Inc. (AMEX: APP) announced preliminary sales for the month of January 2014. On a preliminary basis, total net sales were $45.5 million, a decrease of 1% over the prior year. Comparable sales decreased 5%, including a 4% decrease in comparable store sales in the retail store channel and a 6% decrease in net sales in the online channel. Wholesale net sales increased 7% over the prior year.

Dov Charney, Chairman and CEO, commented, “We believe that our same store sales were negatively impacted by the extraordinarily cold winter weather and winter storms in the U.S. during January 2014. The impact may have been more pronounced for us as we have a high concentration of stores in the areas affected by the bad weather. The decline in online comparable store sales was primarily due to a shift in 2014 sales from the online segment to the wholesale segment as a result of significant sales growth from an online distributor, and the effect of a change in the timing of an international promotion. The 7% growth in wholesale net sales is noteworthy given it is on top of a 13% increase last January.”

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