American Apparel -9% AH on downside guidance, noncompliance notice

|By:, SA News Editor

American Apparel (APP) -8.9% AH after providing downside FY 2014 revenue guidance and saying it received a noncompliance notice from NYSE MKT.

APP sees FY 2014 sales of $634M-$658M, flat to a 4% Y/Y increase but below analyst consensus estimate of $667M, citing the "challenged implementation" of its new distribution center which disrupted the flow of merchandise to stores and wholesale clients.

Says it received a letter from NYSE MKT stating that the company is not in compliance with continued listing standards.