Business

Charney picking up shares on the cheap

American Apparel chief executive Dov Charney is putting in his two cents worth — literally.

The CEO snapped up 105,000 shares of his penny-stock company three days ago, paying 72 cents a pop.

Since then, the deeply depressed shares have rallied, closing up 8 percent yesterday to 74 cents.

Company filings late yesterday showed that Charney bought his share block from other holders on Tuesday, giving him a total of 45.8 million shares.

Based on yesterday’s closing price, he already has gained $2,100 on the deal, with his stake in the clothier valued at nearly $33.9 million.

While the Los Angeles retailer, known for its racy ads, continues to bleed red ink, it has lately shown an improvement in financial results.

In the third quarter, its loss narrowed to $7.2 million, or 7 cents, down from $9.5 million, or 13 cents, a year ago. Total sales rose 5 percent, including an 11 percent jump in online sales.