The Spiegel Group Reports March Sales

- Comments On First Quarter Earnings -



Apr 12, 2001, 01:00 ET from The Spiegel Group

    DOWNERS GROVE, Ill., April 12 /PRNewswire/ -- The Spiegel Group
 (Nasdaq: SPGLA) today reported sales of $254.8 million for the five weeks
 ended March 31, 2001, a 3 percent decrease from sales of $262.4 million for
 the five weeks ended April 1, 2000.
     For the thirteen weeks ended March 31, 2001, total sales declined
 3 percent to $611.7 million from $627.5 million in the same period last year.
     The company also reported that comparable-store sales for its Eddie Bauer
 division decreased 11 percent for the five-week period and 10 percent for the
 thirteen weeks ended March 31, 2001.
     The company reported that sales in its Newport News division grew
 9 percent for the month, while sales in its Eddie Bauer and Spiegel divisions
 decreased 3 percent and 11 percent, respectively.
     The Group's retail store sales and direct sales both decreased 3 percent.
 Direct sales reflect an 82 percent increase in e-commerce sales and a
 12 percent decrease in catalog sales.
     The Spiegel Group will report first quarter earnings on April 24, 2001.
 Commenting on first quarter earnings, James W. Sievers, office of the
 president and chief financial officer of The Spiegel Group, stated,
 "Although sales were lower than planned, we expect first quarter earnings
 to be within the range of our previously issued guidance of a loss of $0.09 to
 $0.12 per share."
     This press release contains statements that are forward-looking within the
 meaning of applicable federal securities laws and are based upon Spiegel,
 Inc.'s current expectations and assumptions.  Words such as "expect," "plan,"
 "believe," "anticipate," and similar expressions identify forward-looking
 statements.  Any such forward-looking statements are subject to a number of
 risks and uncertainties that could cause actual results to differ materially
 from those anticipated.  Potential risks and uncertainties include, but are
 not limited to, factors such as the financial strength and performance of the
 retail and direct marketing industry, changes in consumer spending patterns,
 dependence on the securitization of accounts receivable to fund operations,
 state and federal laws and regulations related to offering and extending
 credit, risks associated with collections on the company's credit card
 portfolio, interest rate fluctuations, postal rate increases, paper and
 printing costs, the success of planned merchandising, advertising, marketing
 and promotional campaigns, and other factors that may be described in the
 company's filings with the Securities and Exchange Commission.
 
     The Spiegel Group is a leading international specialty retailer marketing
 fashionable apparel and home furnishings to customers through catalogs, nearly
 580 specialty retail and outlet stores and eight e-commerce sites, including
 eddiebauer.com, newport-news.com and spiegel.com.  The Spiegel Group's
 businesses include Eddie Bauer, Newport News, Spiegel and First Consumers
 National Bank.  The company's Class A Non-Voting Common Stock trades on the
 NASDAQ National Market System under the ticker symbol: SPGLA.  Investor
 relations information is available on The Spiegel Group web site
 ( http://www.thespiegelgroup.com ).
 
 

SOURCE The Spiegel Group
    DOWNERS GROVE, Ill., April 12 /PRNewswire/ -- The Spiegel Group
 (Nasdaq: SPGLA) today reported sales of $254.8 million for the five weeks
 ended March 31, 2001, a 3 percent decrease from sales of $262.4 million for
 the five weeks ended April 1, 2000.
     For the thirteen weeks ended March 31, 2001, total sales declined
 3 percent to $611.7 million from $627.5 million in the same period last year.
     The company also reported that comparable-store sales for its Eddie Bauer
 division decreased 11 percent for the five-week period and 10 percent for the
 thirteen weeks ended March 31, 2001.
     The company reported that sales in its Newport News division grew
 9 percent for the month, while sales in its Eddie Bauer and Spiegel divisions
 decreased 3 percent and 11 percent, respectively.
     The Group's retail store sales and direct sales both decreased 3 percent.
 Direct sales reflect an 82 percent increase in e-commerce sales and a
 12 percent decrease in catalog sales.
     The Spiegel Group will report first quarter earnings on April 24, 2001.
 Commenting on first quarter earnings, James W. Sievers, office of the
 president and chief financial officer of The Spiegel Group, stated,
 "Although sales were lower than planned, we expect first quarter earnings
 to be within the range of our previously issued guidance of a loss of $0.09 to
 $0.12 per share."
     This press release contains statements that are forward-looking within the
 meaning of applicable federal securities laws and are based upon Spiegel,
 Inc.'s current expectations and assumptions.  Words such as "expect," "plan,"
 "believe," "anticipate," and similar expressions identify forward-looking
 statements.  Any such forward-looking statements are subject to a number of
 risks and uncertainties that could cause actual results to differ materially
 from those anticipated.  Potential risks and uncertainties include, but are
 not limited to, factors such as the financial strength and performance of the
 retail and direct marketing industry, changes in consumer spending patterns,
 dependence on the securitization of accounts receivable to fund operations,
 state and federal laws and regulations related to offering and extending
 credit, risks associated with collections on the company's credit card
 portfolio, interest rate fluctuations, postal rate increases, paper and
 printing costs, the success of planned merchandising, advertising, marketing
 and promotional campaigns, and other factors that may be described in the
 company's filings with the Securities and Exchange Commission.
 
     The Spiegel Group is a leading international specialty retailer marketing
 fashionable apparel and home furnishings to customers through catalogs, nearly
 580 specialty retail and outlet stores and eight e-commerce sites, including
 eddiebauer.com, newport-news.com and spiegel.com.  The Spiegel Group's
 businesses include Eddie Bauer, Newport News, Spiegel and First Consumers
 National Bank.  The company's Class A Non-Voting Common Stock trades on the
 NASDAQ National Market System under the ticker symbol: SPGLA.  Investor
 relations information is available on The Spiegel Group web site
 ( http://www.thespiegelgroup.com ).
 
 SOURCE  The Spiegel Group