Exhibit 99.1

AMERICAN APPAREL REPORTS FOURTH QUARTER AND FULL YEAR 2009 FINANCIAL RESULTS

§
Fourth quarter 2009 net sales of $158.1 million, an increase of 8.6% over the fourth quarter of 2008
   
§
Fourth quarter 2009 diluted earnings per share of $0.04 vs. $0.05 for the fourth quarter of 2008
   
§
2009 net sales totaled $558.8 million, an increase of 2.5% over 2008
   
§
2009 diluted earnings per share of $0.01
   
§
2009 Adjusted EBITDA of $55.9 million

LOS ANGELES, March 25, 2010
American Apparel, Inc. (NYSE Amex: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, today announced its financial results for the fourth quarter and the year ended December 31, 2009.

American Apparel reported net sales for the fourth quarter ended December 31, 2009 of $158.1 million, an 8.6% increase over net sales of $145.6 million for the fourth quarter ended December 31, 2008. Total retail net sales increased 10.4% to $108.2 million for the fourth quarter of 2009 as compared to $98.0 million for the same period in 2008, with comparable store sales for stores open at least 12 months declining 7% on a constant currency basis. American Apparel ended the quarter with 281 stores, having added 21 net new stores during 2009. Total wholesale net sales, excluding online consumer sales, increased 6.1% to $38.5 million for the fourth quarter of 2009 compared to $36.3 million for the fourth quarter of 2008. Online consumer net sales remained relatively unchanged at $11.4 million for the fourth quarters of 2009 and 2008.

Gross margin for the fourth quarter of 2009 was 55.0% as compared to 54.5% for the prior year fourth quarter. Gross margin was favorably impacted by the depreciation of the U.S. dollar against foreign currencies in the fourth quarter of 2009 compared to the fourth quarter of 2008, and by a continuing shift in mix from wholesale to retail sales, which generate higher gross margins. These factors were largely offset by a substantial reduction in manufacturing efficiency at the company’s production facilities in the fourth quarter of 2009 compared to the prior year period. The reduction in manufacturing efficiency was principally a result of the forced termination of over 1,500 experienced manufacturing employees in the third and fourth quarters of 2009 following the completion of the previously disclosed I-9 inspection by U.S. Immigration and Customs Enforcement.

Operating expenses for the fourth quarter of 2009 were $77.2 million, or 48.8% of net sales, as compared to $70.2 million, or 48.2% of net sales for the prior year period. The increase in operating expenses was primarily caused by increased occupancy, payroll, and depreciation expenses from having an additional 21 stores in operation at the end of the fourth quarter of 2009, compared to at the end of the fourth quarter of 2008. Operating expenses were also higher in the fourth quarter of 2009 due to $1.5 million in non-cash retail store impairment charges

 
 

The following information was filed by American Apparel, Inc (APP) on Thursday, March 25, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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