If you're thinking the company has listed unsaleable merchandise in its inventory number, then come right out and say so. That would be a very serious accusation -- one that I'm confident is false. I think the real problem is disclosed in the SEC filings: perfectly saleable ware is not getting sold, instead it's piling up in inventory.
Get your head out of the spin sessions. Or get ready to play more rounds of "why didn't they warn us about that?"