American Apparel Lost Less Money This Quarter

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Still kickin'. Photo: American Apparel

The financially troubled and scandal-plagued company just got the best news they've had in a while: They're losing less money lately. Their net losses were down to $7.2 million this quarter, better than their $9.5 million in losses for the same quarter last year, and their sales rose 4.8 percent (2 percent through retail stores and 11 percent through e-commerce). Needless to say, CEO Dov Charney is elated: "With the combination of improving sales, a reduction in raw material prices and continued efficiency in our manufacturing processes, we believe the prospect is favorable for further improvement in our fourth-quarter and fiscal 2012 financial performance," he said in a statement.