The Spiegel Group, Downers Grove, IL, had revenue growth of 7%, from $752 million in the second quarter of 1999 to $806 million in second-quarter 2000. The company’s net earnings rose 57%, from $16.5 million to $25.8 million. The company’s quarter ended July 1.
Most of the growth was spurred by the e-commerce channel within the firm’s direct marketing operations, which grew from $9.7 million in second quarter 1999 to $46.4 million. Catalog sales actually shrank slightly, from $369.2 million to $364.2 million, and retail sales, which went from $302.4 million to $301.2 million, were flat.
Most of Spiegel’s other revenue was generated through its bank card and other financial operations.
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