Spiegel Struggles Continue

Burrows, Dan
November 2003
WWD: Women's Wear Daily;11/13/2003, Vol. 186 Issue 101, p5
Trade Publication
The net loss of bankrupt Spiegel Inc. continued to increase in the third quarter ended September 27, 2003. For the period, the Illinois-based company recorded a loss of 103.9 million dollars or 79 cents a diluted share. However, Spiegel did manage to narrow its loss before reorganization costs and minority interest expense. Net revenues for the three months declined 29.3 percent to 386.3 million dollars from 549.7 million dollars in the previous year. For the first nine months of the fiscal year, Spiegel recorded a wider net loss of 381.4 million dollars. Net revenues dropped 27 percent to 1.29 billion dollars from 1.77 billion dollars.


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