In its second-largest acquisition, Amazon buys the company for $970 million.
Spiegel Group`s online sales jumped 112% in January while overall sales slip 4%.
The Spiegel Group reported sales of $177.0 million for the four weeks ended Jan. 27 a 4% decrease from sales of $183.9 million for the four weeks ended Jan. 29, 2000. A 6% decrease in retail sales and 2% decrease in direct sales drove the group`s total sales decrease for the month. Direct sales include a 15% decrease in catalog sales and a 112% increase in Internet sales.
The company also reported that comparable-store sales for its Eddie Bauer subsidiary decreased 12% for the four-week period compared to a 4% increase for the same period last year. Eddie Bauer`s comparable-store sales reflect a high level of clearance activity following lackluster sales during the holiday season.