Industry supplier American Apparel, Los Angeles, received $6.7 million from the issuance of stock shares this week, StreetInsider.com reports.
Of the 7.4 million shares in the private sale, it appears that approximately $6 million of the purchase was made by the group of private investors who purchased $15 million in shares of the company’s stock in April. The remaining $700,000 in shares were purchased by company CEO Dov Charney.
American Apparel also reported that the company’s revenue from in-store sales rose 3 percent in June. American Apparel’s sales for the second quarter remained steady with the same quarter in 2010, with total sales reported at $132 million.
Earlier this week, the company announced two new members to its board of directors. The series of announcements saw the company’s stock price rise 17 percent on Thursday. As of 2 p.m. Friday, the company’s stock price was $1.05 per share.
For more information, visit American Apparel’s website.
