American Apparel revenue drops most in four years

American Apparel reported a 5.3 percent drop in revenue last quarter, the biggest decline in four years. The retailer has been without a CEO since June, when founder Dov Charney was accused of misusing corporate funds and violating the company's sexual harassment policies. Though not an executive, Charney now owns more than 40 percent of the company and the board is considering keeping him on in a lesser role. However, last quarter the company paid $5.3 million in legal fees regarding Charney and ended up with a net loss of $19.2 million. Story