American Apparel's repurchase program

Californian based fashion brand American Apparel announced the repurchase of up to a total of $25 million of its outstanding stock. It is expected that the repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is likely to continue over the next twelve months unless extended or shortened by the Board of Directors. The actual number and timing of share repurchases will be determined at American Apparel's discretion and will be subject to market conditions, applicable legal requirements and other factors.

"This share repurchase program reflects the confidence we have in our business and our commitment to preserving shareholder value. By authorizing this repurchase program, it is our intent to address some of the dilution from the warrant redemption completed in March of this year," said American Apparel's Director of Corporate Finance and Development, Adrian Kowalewski.

American Apparel employs over 7,000 people and operates over 185 retail stores in 15 countries, including the United States, Canada, Mexico, United Kingdom, Belgium, France, Germany, Italy, the Netherlands, Sweden, Switzerland, Israel, Australia, Japan and South Korea. American Apparel also operates a leading wholesale business that supplies high quality T-shirts and other casual wear to distributors and screen printers.