The $67 million investment in Allopneus will help Michelin better understand online tire buyers, the tire maker says.
Spiegel reports that for the second month in a row, web sales, once the only growing medium, are sinking as well. Spiegel also announced a new president for Eddie Bauer.
The web used to be the bright spot at the Spiegel Group. Spiegel consistently reported declining sales in all channels expect the Internet. But for the second month in a row, that’s no longer true. The company reported today that total sales in June were down 20% from June 2001 and web sales were down 3%. In May, total sales were down 24% and the web was down 3%.
June sales companywide totaled $196.6 million vs. $246.3 million in June last year. For the first half, Spiegel’s sales fell 17% vs. a year ago, reaching $1.07 billion from $1.28 billion a year earlier.
Spiegel also announced today a new head for its Eddie Bauer division, which, while also recoding declining sales, is not falling as quickly as the Spiegel and Newport News divisions. Fabian Mansson, former chief executive officer of $4 billion-a-year, European retail chain H&M; (Hennes & Mauritz) with 800 stores, will become Eddie Bauer president and CEO. He was with H&M; from 1991 to 2000. He most recently was executive vice president with Spray Ventures, a Swedish venture capital company.