Spiegel Inc., Downers Grove, IL, reported revenue for the second quarter increased 10% to $752 million from $684 million last year, driven by an increase in net sales. The net sales growth reflects a 14% increase in total catalog sales and a 5% increase in total retail sales.
The second quarter ended July 3.
The company reported net income of $16.5 million compared with a net loss of $10.9 million in 1998’s second quarter.
“We achieved strong operating results for the quarter due to sales growth and significant margin improvement in our merchandising segment along with the continuing positive contribution from our bankcard segment,” James W. Sievers, office of the president and CFO, said in a statement.
Higher catalog sales were generated by “solid customer response to increased pages circulated for Spiegel Catalog and Newport News as well as the increasing contribution from Internet sales,” said a company statement.
Total Internet sales more than tripled for the quarter, increasing 260%. Growth in retail sales was driven by a 7% increase in Eddie Bauer’s comparable-store sales, offset slightly by lower sales form outlet stores.
