American Apparel Announces Performance Report Loss Narrowing In The Two Quarter

< p > the initial accounting results of the second quarter and first half of the US leisure wear brand American Apparel Inc. show that although the profit margin has declined, the company's deficit has been reduced.

In the quarter ended June 30th, American Apparel Inc. recorded a net loss of $15 million and a diluted earnings per share of about 9 cents, down from 38 million US dollars recorded in the same period in 2013.

The operating income was $4 million from a loss of $2 million over the same period.

Operating costs dropped by 8.1% from $86 million in the same period last year, to $79 million, or 48.8% of sales.

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Net sales of < p > a href= "http://sjfzxm.com/news/index_q.asp" > Company < /a > were basically flat. In fiscal year 2013 and fiscal year 2014, they were stable at 162 million US dollars, with a total profit of 82 million dollars, accounting for about 50.6% of net sales, lower than 51.9% of gross profit margin at the same time.

The company did not publish data on the same store's sales performance.

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< p > over the past six months, the company's net loss has decreased from $84 million to $21 million, shrinking by 3/4, and its diluted earnings per share also dropped from 76 cents to 14 cents.

Sales fell from $300 million to $299 million, down 0.3 percentage points and gross margins from 53.2% to 51.5%.

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< p > 2014 is a turbulent year for American Apparel.

First of all, its chief executive, Dov Charney, was suspended for sexual harassment scandals. LADYMAX fashion network has reported on the matter.

The public relations incident made the company fall into the dilemma of public relations, but also made the company fall into a board dispute.

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< p > hedge fund Standard General lent Charney200 million to buy shares of the company, and Standard General can control the company by controlling Charney's current and past 44% shares.

Last month, American Apparel reorganized its board of directors and appointed 4 new directors, of whom two were appointed by Standard General.

Only two members of the old board members - Allan Mayer and David Danziger remain in office.

The new board of directors will set up a special committee to investigate the Charney and decide whether to relocate him or arrange for him to hold other duties in the company.

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In the P quarter, American Apparel missed the deadline for public earnings, so it is necessary to cooperate with the securities and Exchange Commission to estimate its performance.

The company explained that the delay was due to the fact that the new board would need more time to check its financial accounts and be familiar with its operation and management.

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