Spiegel Loses $16.6M in 4-Week Period
Expenses and reorganization items combined to give Spiegel Inc. a $16.6 million net loss from operations for the four weeks ended May 24, according to the direct marketer's Form 8-K filed June 24.Net sales and other revenue totaled $164.2 million in the period for the company, which filed for bankruptcy protection earlier this year. However, the cost of sales and operating expenses amounted to $173.5 million.
Factoring in the estimated income of non-debtors and interest expense gave the company a $5.2 million loss from operations before reorganization items, which amounted to $11.4 million. This gave the Downers Grove, IL, company its $16.6 million net loss.
