Spiegel Group’s Second Quarter Reflects Slowdown

Downers Grove, IL–Multititle apparel and home goods cataloger The Spiegel Group [NASDAQ: SPGLA], whose titles include Newport News, Eddie Bauer, and Spiegel, saw sales and earnings slip for the second quarter ended June 30. The company reported earnings of $5.0 million, or $0.04 per share, compared to earnings of $25.8 million, or $0.20 per share for the same period last year. At least the shortfall came as no surprise, as those earnings were in line with the company’s estimates.

Total revenue for the quarter declined 4% to $831.9 million, which reflects a 5% decrease in net sales and a 4% decrease in finance revenue. Net sales included a 6% drop in direct sales and a 4% drop in retail sales. Direct sales reflected a 61% increase in e-commerce sales, which was offset by a 15% decrease in catalog sales.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.