American Apparel Lost a Mere $20 Million Last Quarter

Just weeks ago, discount sex outlet American Apparel was rescued from financial doom by kindly foreign investors. Yesterday, the company released its first quarter results. Which are good! In the sense of "slightly less horrible."

You could also say they are "bad." Same store sales fell 8%; net sales fell nearly 5%; quarterly revenue fell by $5.7 million. But they only lost $20 million total last quarter, versus more than $40 million in the same quarter last year, which is a "narrower loss," if you're inclined to look at the bright side of things.

Or, you could note that "American Apparel's liquidity is still close to drying up," if you're inclined to look at the bleak side of things. But hey, if Dov Charney keeps going at this rate, by next year they'll only be losing $10 million in the first quarter! With fewer than five lawsuits! Never, ever stop believing.