The Spiegel Group, Downers Grove, IL, reported net sales of $124.1 million for the five weeks ended July 3, a 23% decrease compared to net sales of $160.2 million for the five weeks ended June 28, 2003.
Sales comparisons for June were impacted by the company’s sale of its Newport News business, according to the company. Net sales reported for the month include Newport News through June 21, whereas last year’s sales include results for the full five-week period. Excluding Newport News, the Spiegel’s net sales decreased 18% for the month compared to last June.
For the 26 weeks ended July 3, total net sales declined 21% to $660.1 million from $840.2 million in the same period last year. The company also reported that comparable-store sales for its Eddie Bauer division decreased 11% for the five-week period and 6% for the 26-week period ended July 3, compared to the same periods last year.
Spiegel’s catalog and e-commerce net sales decreased 31% for the month compared to the same period last year primarily due to the sale of the Newport News business, lower customer response and a planned reduction in catalog circulation.
Excluding the Newport News business, direct net sales decreased 23% for June compared to the same period last year.
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