Indeks
American Apparel Inc. rose the most since the seller of hipster apparel began trading in March 2006 after forecasting 2008 profit that may exceed estimates on higher in-store and online sales.
The company surged 25 percent to $8.20 in American Stock Exchange composite trading for the steepest gain since Endeavor Acquisition Corp., the buyout firm that purchased American Apparel, listed its shares. The shares declined 56 percent in 2008 before today, compared with the 1.5 percent slide in the Russell 2000 Index.
Full-year profit may be as much as 36 cents a share, or 1 cent more than the average of two analyst estimates in a Bloomberg survey. Retail-store and online revenue, which generate higher margins for the Los Angeles-based company, increased faster than wholesale sales, American Apparel said. That lifted profit as a percentage of revenue to 59.5 percent in the second quarter, up from 56.5 percent a year earlier, it said.
American Apparel opened 20 new stores this year and plans a total of 50 to 55 openings in 2008, an increase from its prior estimate of 40 to 45.
The company surged 25 percent to $8.20 in American Stock Exchange composite trading for the steepest gain since Endeavor Acquisition Corp., the buyout firm that purchased American Apparel, listed its shares. The shares declined 56 percent in 2008 before today, compared with the 1.5 percent slide in the Russell 2000 Index.
Full-year profit may be as much as 36 cents a share, or 1 cent more than the average of two analyst estimates in a Bloomberg survey. Retail-store and online revenue, which generate higher margins for the Los Angeles-based company, increased faster than wholesale sales, American Apparel said. That lifted profit as a percentage of revenue to 59.5 percent in the second quarter, up from 56.5 percent a year earlier, it said.
American Apparel opened 20 new stores this year and plans a total of 50 to 55 openings in 2008, an increase from its prior estimate of 40 to 45.
