American Apparel forecast annual sales at the low end of its previous range and said it may restate some previous results following a review of its revolving credit facility.

Sales this year will be $550 million to $575 million, the retailer said in a statement yesterday, compared with a previous forecast for as much as $600 million.

The company reported revenue of $545 million for 2008. American Apparel closed down 20 percent to $4.40 in Amex trading.