This week, I plan to put American Apparel (NYSEMKT: APP ) CEO and founder Dov Charney on the hot seat.
The dunce cap
We'll get to the main reason that Dov Charney worked his way to this dubious honor in a moment, but first let's take a look at how American Apparel, a branded retail chain of around 250 stores nationwide, could probably have gotten here on its own, without the help of Mr. Charney.
American Apparel's recent same-store sales results might suggest that a rebound is in the offing. Its December same-store sales, released yesterday, showed a 15% boost over the previous year, including a 59% boost in online channel sales. But dig a little deeper and you'll discover a company that's in a serious amount of trouble and is simply fighting for survival through deep discounts and serious cost cuts.