The Spiegel Group reported sales of $135.8 million for the four weeks ended January 25, 2003, a 16 percent decrease from sales of $162.6 million for the four weeks ended January 26, 2002.
The company also reported that comparable-store sales for its Eddie Bauer division decreased 1 percent for the four-week period, reflecting flat comparable-store sales in its core apparel stores and negative comps in its outlet stores. While January sales activity is primarily focused on season-end clearance, Eddie Bauer achieved significant margin improvement for the month compared to last year due to lower markdowns. Eddie Bauer introduced its spring offer in its apparel stores the week of January 27th.
The Group's total retail sales fell 3 percent compared to last year due to a reduction in the number of stores and lower sales in the Group's outlet stores. Total direct sales decreased 26 percent compared to last year, primarily due to a planned reduction in catalog circulation and lower customer response.
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