Sales Decline at Spiegel Despite Higher Web Results

Share this content:
Strong growth in its e-commerce division could not prevent a 6 percent decline in direct sales at The Spiegel Group.


The company yesterday reported its financial results for the second quarter, which ended June 30. While e-commerce sales were up 61 percent, catalog sales fell 15 percent.


Spiegel reported earnings of $5 million for the quarter, compared with $25.8 million for the same period last year.


"While under last year's record performance, earnings were in line with our expectations," said James R. Cannataro, executive vice president and chief financial officer at The Spiegel Group, Downers Grove, IL. "We anticipate substantial year-over-year earnings improvement in the fall season as we compare against last year's weaker sales period, particularly at Eddie Bauer."


Net sales for its retail stores fell 4 percent. The decline resulted from a 9 percent drop in Eddie Bauer's comparable store sales.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above