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Dov Charney via Getty
Following up on a report that American Apparel was making money for the first time in several years, WWD reports that the company's CEO, chairman, and frequent PR liability, Dov Charney, got a major raise. How major? From a mere $800,000 to $2 million in cash. His stock awards totaling nearly $12.5 million, however, will be awarded to him only if the company reaches certain target profits in time for other shareholders to vote in June.
All this might indicate a real turn-around for the struggling retailer, but remember, the company's sales jump from 2011 to 2012 only brought the net loss from $39.3 million to $37.3 million. Perspective!
· Dov Charney's Pay at American Apparel Rises [WWD]
· American Apparel CEO Dov Charney Sued for $250,000,000 [Racked]