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American Apparel Slips To Loss In Q1; Cuts FY09 Outlook - Quick Facts

American Apparel, Inc. (APP) on Monday reported first quarter net loss of $9.0 million or $0.13 per share, compared to net income of $1.1 million or $0.02 per share in the same quarter last year.

For the latest quarter, net sales were $114.3 million, 2.4% higher than $111.6 million in the comparable quarter last year. Total retail sales for the first quarter increased 16.5% to $78.0 million from $67.0 million in the same year ago quarter, with comparable store sales for stores open at least 12 months declining 7%.

On average, two analysts polled by Thomson Reuters expected a loss of $0.05 per share for the quarter on revenues of $117.50 million.

For 2009, the company reduced its consolidated net sales guidance to $550 million to $575 million, from its previous guidance of $575 million to $600 million. Fiscal year 2009 Income from operations outlook is reduced to $40 million to $50 million, from its previous guidance of $55 million to $65 million.

Analysts estimate the company to report revenues of $576.75 million for the full-year 2009.

The company still expects to open a total of 25 to 30 new stores for the year.

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