After first-quarter sales take a dive, so do American Apparel shares
Wednesday, May 19, 2010 - 15:32
in Mathematics & Economics
A better economy has boosted same-store sales at many retailers, but American Apparel sees a 10% decline. The company cites problems with a credit agreement, plus layoffs of 1,500 workers haven't helped. American Apparel Inc.'s shares plummeted Wednesday morning after the Los Angeles retailer reported disappointing first-quarter preliminary results. The company said it expected problems with its credit agreement and declined to provide...