The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
Web sales continue to outpace store sales at three leading retailers who break out their web experience. In all three, web sales grew while other sales declined.
Once again, sales companywide at The Spiegel Group are crashing while web sales are zooming. Spiegel today reported sales of $217.9 million for the four weeks ended Oct. 27, a 7% decrease from $234.1 million in October 2000. Meanwhile, web-based sales grew 47%.
For the 43-weeks ended Oct. 27, total sales declined 6% to $2.08 billion from $2.22 billion in the same period last year.
Sales in the Group`s Eddie Bauer division declined 6% reflecting growth in its direct business offset by a decrease in apparel sales in its retail business. Sales in the company`s Newport News and Spiegel divisions declined 12% and 7%, respectively.
Web-based sales for J. Crew Group Inc. grew 14% in October to $11.2 million from $9.8 million in October 2000, while total company sales fell 5.7% to $65.9 million, J. Crew reported today. In October, web sales accounted for 17% of J. Crew’s sales. Comparable store sales declined 20.6% for the month vs. a year earlier.
J. Crew’s quarterly web sales grew 21% to $32 million from $26.5 million a year earlier while total quarterly revenue fell 3.3% to $195.6 million from $202.3 million. Web sales were 16.3% of the quarter’s sales.
Web sales for J. Crew’s first three quarters grew 23.3% to $78.3 million from $63.5 million while companywide sales declined 1.5% to $531.3 million. Web sales accounted for 14.8% of J. Crew’s sales in the first nine months. J. Crew operates 130 retail stores, 41 factory outlet stores, the J. Crew catalog and jcrew.com.
Web sales at JCPenney.com reached $37 million in October, up 23.3% from $30 million in October last year, J. C. Penney Co. Inc. reported today. Comparable department store sales decreased 0.7% for the month while comparable drugstore sales increased 9.3%.
Year-to-date web sales have grown 25.8% to $210 million from $167 million last year.