In its second-largest acquisition, Amazon buys the company for $970 million.
Spiegel`s and J. Crew`s online sales were up 5% in September while total sales were down; Jos. A. Bank`s direct sales growth outpaced companywide growth. All three reported strong year-over-year web sales growth.
The Spiegel Group today reported that Internet sales were up 5% in September from September a year ago while companywide sales were down 19% to $183.6 million for the month.
For the 39 weeks of the year, sales declined 17% to $1.543 billion from $1.861 billion in the same period last year.
The company suffered sales declines across all its well known brands: down 13% at Eddie Bauer, 31% at Newport News and 25% at Spiegel Catalog.
J. Crew Group Inc. also reported less than stellar web sales. Online sales were up 4.9% to $10.7 million for the month from $10.2 million. Total company sales fell 10.6% to $59.1 million from $66.1 million. Comparable store sales fell 20.3%.
For the first 35 weeks of the year, J. Crew’s web sales grew 16.4% to $78.1 million from $67.1 million last year. Total sales for the 35 weeks were down 2.6% to $453.5 million. For the 35 weeks, online sales represented 17.2% of sales vs. 14.4% a year ago.
Meanwhile, Jos. A. Bank Clothiers Inc. reported that combined catalog and Internet sales for September grew 19.4% while total sales increased 16.9%. For the first eight months of the year, combined catalog and Internet sales grew 26.3% while total sales grew 15.9%.