Retail Roundup: American Apparel Sued, Macy's Loses $44 Million, and More

American Apparel sued — American Apparel, the retailer that’s nabbed headlines for its suggestive advertising, is in the heat of the spotlight again, this time for a lawsuit filed by a former accountant who claimed he was fired after refusing requests from CEO Dov Charney to inflate figures on the company’s balance sheet. Roberto Hernandez alleges that in in 2006 Charney “demanded that Mr. Hernandez pad the inventory” of the company to lure investors. Hernandez claims he was fired a week after refusing to cooperate. His lawsuit is the latest in a series of cases against the company, which has recently faced five sexual-harassment suits. [Source: WSJ]

Macy’s loses $44 million in quarter — As sales dropped more than 7 percent, Macy’s Inc. swung to a loss in the third quarter despite an early unveiling of the retail behemoth’s holiday campaign and a celebration of the chain’s 150th birthday. Macy’s officials said the store lost $44 million in the quarter, a stark contrast from the $33 million profit the chain raked in a year earlier. Still, Macy’s is performing better than many of its peers: For October, the chain reported a same-store-sales drop of 6.3 percent, while Dillards Inc. fell 8 percent and J.C. Penney Co. dropped 11.8 percent. [Source: MSN Money]

24 percent of holiday dollars to be spent online — About 21 percent of U.S. consumers intend to shop primarily on the Web this holiday season, up from 19 percent last year. Retail e-commerce sites now rank as the second-most-desired place to buy gifts, coming in just behind discount department stores, according to consulting firm Deloitte LLP’s latest report. The study also found that 24 percent of total holiday dollars are estimated to be spent online, and 36 percent of shoppers plan to use the Web and catalogs to purchase gifts in attempts to save money on gas. [Source: internetretailer]

Nation prepares to significantly trim spending on dining out, apparel — American consumers planning to curtail their spending habits said they are most likely to cut back on dining out, with 57 percent reporting that they plan to spend less, according to the newest NPD Group Consumer Spending Indicator. Meanwhile, 54 percent of shoppers expect to spend less money on apparel, and 50 percent will trim their entertainment expenses. The categories least affected by the recession include video games, toys, movies, beauty, and music, according to the study. [Source: NPD]