American Apparel revenue metric rose 5 pct
American Apparel says key revenue gauge rose 5 percent in March and its first quarter
LOS ANGELES (AP) -- Clothing maker American Apparel Inc. said Thursday its revenue at established stores rose 5 percent in both March and the first quarter.
Revenue at stores open at least a year is considered a key measurement of retail performance because the comparison screens out the potentially distorting effect of results from stores that opened or closed in the past year.
American Apparel said its overall net revenue rose 2 percent to $50.3 million in March and 5 percent to $138.8 million for the three-month period.
The Los Angeles-based company said online sales climbed 26 percent for the month and 24 percent for the quarter.
Adding those increases to results from stores open at least a year boosted the increase in comparable sales to 8 percent for the month and the quarter, the company said.
American Apparel shares rose 14 cents, or 7 percent, to $2.15 in late morning trading Thursday.
