From: ASAP
The Spiegel Group today reported sales of $162.7 million for the four weeks ended January 26, 2002, an 8 percent decrease from sales of $176.8 million for the four weeks ended January 27, 2001.
The company also reported that comparable-store sales for its Eddie Bauer division decreased 25 percent for the four-week period. The company stated that Eddie Bauer's markdowns were significantly lower for the month compared to last year due to lower inventory ownership and its strategy to move more clearance merchandise through its outlet stores, both of which negatively impacted comparable-store sales.
The Group's sales results by division for the month of January reflect a decline of 7 percent at Eddie Bauer, 8 percent at Newport News and 11 percent at Spiegel.
Sales from the Group's e-commerce channel grew during the month, posting an increase of 30 percent. Total direct sales declined 5 percent and the Group's retail store sales decreased 13 percent.
The Spiegel Group is a leading international specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs, 580 specialty retail and outlet stores and e-commerce sites, including eddiebauer.com, newport-news.com and spiegel.com. The Spiegel Group's businesses include Eddie Bauer, Newport News, Spiegel and First Consumers National Bank. The company's Class A Non-Voting Common Stock trades on the Nasdaq National Market System under the ticker symbol: SPGLA. Investor relations information is available on The Spiegel Group Web site (thespiegelgroup.com).
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