The Spiegel Group’s November sales dropped to $195.3 million from $255.2 million in November 2001. Total direct sales fell by 24%, while retail sales were off 23% from last year’s levels.
Broken out by division, Spiegel Catalog’s revenue was down 37%, compared with 22% for Newport News and 18% for Eddie Bauer. Newport News and Spiegel Catalog reduced the total number of catalog pages each circulated. Additionally, the company has imposed stricter credit-granting requirements.
The Downers Grove, IL-retailer noted that last November’s included two extra post-Thanksgiving sales days.
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