American Apparel Q4 net sales decline 19 percent

American Apparel reported loss per share of 0.16 dollars compared to 0.19 dollars in the fourth quarter of 2013. Adjusted EBITDA was 10.3 million dollars compared to 0.4 million dollars in the fourth quarter of 2013. Operating expenses, excluding significant charges, decreased 10.9 million dollars or 12 percent for the quarter.

Commenting on the results, Paula Schneider, Chief Executive Officer, said, "Our fourth quarter year-over-year growth in adjusted EBITDA and reduction in operating expenses position us for a solid turnaround of this business.”

Net sales for the fourth quarter decreased 15.6 million dollars, or 9 percent, compared to the same period in 2013 due to lower sales in all three sales channels. Gross profit decreased 9 percent to 72.2 million dollars from 79.5 million dollars for the same period in 2013, due to the lower retail and wholesale sales volume. Gross profit, excluding significant charges, increased to 52.2 percent of net sales from 47.5 percent in the fourth quarter of 2013.