American Apparel To Close Underperforming Retail Locations - Quick Facts

(RTTNews) - American Apparel, Inc. (APP) announced a series of cost reduction initiatives, which will include closing underperforming retail locations. The company will also streamline its workforce. American Apparel said it will look to add new stores in profitable fast-growing territories while reducing its footprint in unprofitable and over-saturated markets. The company expects these initiatives to reduce operating expenses by approximately $30 million over the next 18 months.

The company's announced cost reduction initiatives is part of the next phase of its strategic turnaround plan, which also include a redesigned fall merchandise line, and key additions to its leadership team.