November 8, 2001 - The Spiegel Group today reported sales of $217.9 million for the four weeks ended October 27, 2001, a 7 percent decrease from sales of $234.1 million for the four weeks ended October 28, 2000.
For the 43-weeks ended October 27, 2001, total sales declined 6 percent to $2.079 billion from $2.217 billion in the same period last year.
The company also reported that comparable-store sales for its Eddie Bauer division decreased 19 percent for the four-week period and 12 percent for the 43-week period ended October 27, 2001.
Sales in the Group's Eddie Bauer division declined 6 percent reflecting growth in its direct business, offset by a decrease in apparel sales in its retail business. Sales in the company's Newport News and Spiegel divisions declined 12 percent and 7 percent, respectively.
The Group's e-commerce channel continued to grow during the month, posting a sales increase of 47 percent, offsetting a 14 percent decrease in catalog sales. In total, direct sales declined 5 percent while the Group's retail store sales decreased 9 percent.
The Spiegel Group is a leading international specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs, more than 580 specialty retail and outlet stores and eight 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).
Thank you for taking the time to read this fashion industry news on the Apparel Search website.
ASAP Fashion News Fast - Fashion news for the apparel industry
and consumers to learn more about the clothing business. Apparel Search
ASAP Fashion News Fast - Fashion news for the apparel industry and consumers to learn more about the clothing business.
Apparel Search ASAP News[borders/disc4aftr.htm]