Spiegel sales dive amid reorganization

The Spiegel Group reported net sales of $98.6 million for the four weeks ended Jan. 31, a 27 percent decrease compared to net sales of $135.6 million for the four weeks ended Jan. 25, 2003.

The company also reported that comparable-store sales for its Eddie Bauer division decreased 7 percent for the four-week period ended Jan. 31, compared to the same period last year.

Net sales for January include $3.8 million in liquidation sales resulting from the sale and transfer of inventory in early January to an independent liquidator in conjunction with the closing of 29 Eddie Bauer stores.

Excluding the liquidation sales, the group's net sales from retail and outlet stores fell 32 percent compared to the same period last year, primarily due to the impact of store closings and a decline in comparable-store sales, said Spiegel.

The company operated 440 stores at the end of January 2004 compared to 565 stores at the end of January 2003.

Most of the store closings, said the company, resulted from actions taken as part of its ongoing reorganization process.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!