In its second-largest acquisition, Amazon buys the company for $970 million.
The Spiegel Group’s March numbers show a big jump in e-commerce sales, but declines in catalog and stores sales.
Internet sales at the Spiegel Group grew 82% in March this year from March last year. The Internet sales, however, were not enough to offset a companywide sales decline of 3%. Catalog sales were down 12% decrease in sales while overall sales were down 3%. Spiegel Group reported total sales numbers for the five weeks in March were $254.8 million down from $262.4 million for the same period last year. Spiegel Group’s brands include Spiegel, Newport News and Eddie Bauer.