From: ASAP
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).
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