With an uncertain financial future ahead, American Apparel is still struggling to recapture shoppers' interest. According to preliminary numbers, the company brought in just $134 million in sales during the second quarter of the year, which ended June 30 — a solid $28 million less than the same time last year. Net loss during that period sat at $19 million, deepening 2014's loss of $16 million.
Those numbers are preliminary because, as American Apparel noted in a SEC filing dated Tuesday, the company wasn't able to pull together an official report for the second quarter of the year by its deadline.
The basics retailer presented to investors a new strategic plan in early June, covering everything from tweaks in marketing and product, to cost-cutting initiatives that could save it $30 million — so we'll see in the coming months how well that's working out. But don't expect an easy fix: In Tuesday's SEC filing, American Apparel reaffirmed, as it initially said in July, that it doesn't have enough funding to last the year unless it raises more capital. So if you're staying tuned, stay tuned for that.