American Apparel back in fashionMarch 5, 2013: 12:35 PM ET
Shares of American Apparel (APP) took off Tuesday, after the retailer reported strong earnings and sales.
American Apparel's stock rallied more than 16%, although it's trading well below $2.
Still, the retailer has had a string of wins lately. In addition to reporting a solid quarter, American Apparel said sales would range between $652 million and $660 million for the year.
Just last month, same-store sales bumped up 10%.
"We have set a three to five year goal to grow our business to business wholesale channel a minimum of 25% by improving the functionality and offering of our wholesale online store, expanding the assortment of product offered to our wholesale customers and increasing the reach of our sales force," said CEO Dov Charney, in a statement.
Analysts and investors alike seem to like what they're hearing. Brean Capital initiated coverage with a "buy" rating and StockTwits traders weighed in.
Cute reference to the CEO's name, TalentedBlonde. He's certainly sounding upbeat about the retailer's future. "Although we are pleased with this growth, we are focused on continuing to improve our financial performance," Charney said in the earnings release.
American Apparel, we haven't seen anything yet. Everything coming together in a perfect storm of profit + massive brand building $APP Bullish
Struggling retailer turns things around? There's an $APP for that. American Apparel up 20% pre-market on surprise Q4 profit & better sales.