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Article: EDDIE BAUER'S WOES CONTINUE.(financial results for The Spiegel Group)(Brief Article)(Statistical Data Included)
- Article from:
- Daily News Record
- Article date:
- February 25, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Its inability to rejuvenate its Eddie Bauer unit pushed The Spiegel Group more deeply into the red in the fourth quarter.
The Downers Grove, Ill.-based catalog retailer, which also owns Eddie Bauer, reported a fourth-quarter net loss of $378.1 million, or 14 cents a diluted share, compared to net income of $65.4 million, or 17 cents, in the year-ago period.
Net sales for the quarter ended Dec. 29 sloughed off 14.6 percent to $920.9 million from $1.08 billion last year.
Eddie Bauer's net sales took a 14.8 percent tumble in the quarter, dropping to $571.3 million from $670.3 million last year. The division's fiscal 2001 sales ...