In its second-largest acquisition, Amazon buys the company for $970 million.
The web starred in Feburary sales figures for several retailers. Internet sales at The Spiegel Group increased 27%, combined catalog and web sales at Jos. A. Bank Clothiers Inc. increased 11.2%, and web sales rose 26% at J. Crew.
Internet sales continue to be the only growth area at Downers Grove, IL-based The Spiegel Group. Spiegel’s web sales increased 27% in February while companywide sales decreased 11%, Spiegel reported today. February sales for Spiegel’s Eddie Bauer, Newport News and Spiegel divisions totaled $156.6 million.
For the eight weeks ended February 23, total sales declined 11% to $319.2 million from $356.9 million in the same period last year.
By division for February, sales fell 13% at Eddie Bauer, 16% at Newport News and 10% at Spiegel Catalog.
Combined catalog and web sales at Hampstead, MD-based Jos. A. Bank Clothiers Inc. increased 11.2% in February, the company reported today. Total sales increased 9.3% to $14.4 million while comparable store sales increased 1.1%.
"Our multi-channel concept of stores, catalog and Internet retailing continues to perform well as it offers very convenient shopping choices for our customers,” said Robert N. Wildrick, CEO.
Internet sales for New York-based J. Crew Group, Inc. grew 26% in February over February last year, the company reported today. Web sales totaled $13.1 million in February and accounted for 24.5% of J. Crew’s revenue vs. $10.4 million and 19% a year earlier.
J. Crew’s total revenue, including shipping and handling fees, declined 2% in February to $53.4 million from $54.5 million. Shipping and handling fees accounted for $3.5 million in revenue this year vs. $3.4 million a year earlier. Store sales fell 1.7% to $22.8 million, catalog sales dropped 16% to $10.7 million and factory store sales fell 29% to $3.2 million. In addition to the web site and the catalog, J. Crew operates 137 retail stores and 41 factory outlet stores.