Spiegel Loses $16.6M in 4-Week Period

Share this article:
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.


This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions