* Q1 loss/share $0.28 vs loss/share $0.60 year-ago
* Q1 revenue $116.1 mln vs $121.8 mln year-ago
May 10 American Apparel Inc APP.A posted a
narrower quarterly loss as it cut costs by closing
underperforming stores and streamlining operations, and the
clothing chain expects to achieve positive comparable store
sales this year.
The retailer, known for racy advertising and its founder's
legal problems, raised prices to offset higher yarn and fabric
costs in the first quarter, boosting margins.
The company has been facing a long string of troubles, from
possible covenant breaches to immigration probes of its workers
to shareholder litigation and a long-running sales slump.
In April, the company said in the risk factors section of a
regulatory filing that it might file for bankruptcy if it does
not get enough money to keep running and might even have to
For January-March, American Apparel posted a loss of $20.7
million, or 28 cents a share, compared with a loss of $42.8
million, or 60 cents a share, a year ago.
Revenue fell nearly 5 percent to $116.1 million in the
quarter, hurt partly by the shift of the Easter holiday to
The company's shares closed 5 percent higher at $1.28 on
Tuesday on the American Stock Exchange.
(Reporting by Renju Jose in Bangalore; editing by Andre