The top story in WWD today is about American Apparel and how badly they need to make money if they want to survive. To that end, the company hired bad-boy retail executive Marty Staff — the kind of dude who plays by no rules but his own — who reasons that if customers don't want to buy American Apparel in American Apparel stores, maybe they'll want to buy it if they wholesale it to other stores. Staff sure has his work cut out for him. Just see the numbers:
For the nine months ended Sept. 30, the company reported a net loss of $67 million compared to a net loss of $1.9 million in the 2009 period, while net sales declined 2.9 percent to $389 million. Gross margin decreased to 51.4 percent, down from 58.1 percent in the year ago period.
But you could have guessed that to some degree. You probably also could have guessed that the company is late again with its quarterly filing and full-year results for 2010. (Maybe it's too painful for them to just come out with it? They should do it fast, like ripping off a Band-Aid.) But what you might not have guessed is that this is the story that would reveal CEO Dov Charney — who just got out of a lawsuit that alleged he turned a former staffer into a sex slave — posing with an actual dog. A dog with legs wildly akimbo.