Spiegel Inc., Downers Grove, IL, cut its first-quarter net loss from $23.1 million in first-quarter 1998 to $10 million in first-quarter 1999, partly due to a 6% increase in revenue, from $591 million to $625 million.
The quarter ended April 3.
The revenue growth was spurred by a 5% increase in catalog sales and an 8% jump in retail sales. Higher levels of productivity for its Eddie Bauer, Newport News, and Spiegel catalogs contributed to reducing administrative costs from 39.7% of its revenue to 39%.
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