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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Susan G who wrote (25106)2/16/1999 12:07:00 PM
From: Jenna  Read Replies (1) of 120523
 
>>ALERT: STOCK #3 newsletter<< beats the street by 3 cents looking good also SPGLA beats and looking pretty good

Spiegel Q4 Net Up 30 Pct, Sees More Profits In '99
DOWNERS GROVE, Ill. (Reuters) - Apparel and home furnishings retailer Spiegel Inc. (Nasdaq:SPGLA - news) reported a 30 percent increase in fourth quarter earnings Tuesday, which surpassed analysts' expectations, and said it sees continued profitability in 1999.

Spiegel, whose brands include Eddie Bauer and Spiegel Catalog, reported net earnings of $41.5 million or $0.32 per share for the quarter ended January 2 compared with $31.9 million or $0.27 per share in the year-ago period. The 1998 results included a gain of $0.08 per share.

''Now that we have returned The Spiegel Group to profitability, we are committed to keeping it there and generating consistent profit growth in 1999,'' said Michael Moran, one of the executives in the Office of the President of Spiegel.

For all of 1998, the company reported a net loss of $33.02 million or $0.28 per share.

Wall Street analysts forecast Spiegel's fourth quarter earnings at $0.28 per share, according to First Call Corp.

Revenue for the fourth quarter decreased 8 percent to $1.017 billion, compared with $1.112 billion a year earlier, which reflected a 13 percent decline in catalog sales and a 4 percent drop in retail sales.

Catalog sales fell because of fewer pages in Spiegel Catalog and a lower response to Eddie Bauer catalog mailings, the company said.
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