Printer Friendly

'VALUE MAY BE THE SINGLE TOUGHEST BUSINESS ISSUE FOR RETAILERS TO SWALLOW' SAYS JOHN J. SHEA, CEO OF SPIEGEL

 'VALUE MAY BE THE SINGLE TOUGHEST BUSINESS ISSUE FOR RETAILERS
 TO SWALLOW' SAYS JOHN J. SHEA, CEO OF SPIEGEL
 NEW YORK, April 9 /PRNewswire/ -- "Retailers who understand and deliver value will be the winners in the '90s," John J. Shea, vice chairman, president and CEO of Spiegel, Inc. (NASDAQ-NMS: SPGLA) told a group of retail executives this morning. "Value may be the single toughest business issue for retailers to swallow. It's essential (for retailers) to educate and motivate their people - to encourage them to plow all of their energies into finding the best ways to meet the new, more demanding expectations of today's retail customers. They want value and they want fashion," he added.
 Speaking at the 1992 Business Outlook Conference at the Essex House, Shea stressed the need for retailers to change just as consumers have changed. "It's no longer a world simply of style, fashion, or merchandise. It's a tougher, more demanding world of state-of-the-art information systems, database marketing, sophisticated financing strategies, innovative sourcing, quality control and more subtle human resource policies which acknowledge that there's a new breed of worker out there," he said.
 Demographics have also changed. "The baby-boom bubble is moving out of its carefree spending years. In absolute terms, the next generation of consumers is smaller. So the number of highly-motivated apparel and home furnishings buyers with lots of discretionary spending and few competing financial needs has stopped growing," he said.
 Shea spoke about other issues affecting the retail industry such as the intense debate over U.S. tax policy, the international rules of trade under GATT and the North American Free Trade Agreement. He emphasized that the retail industry "must speak more loudly, more frequently and more certainly about the full range of tax, trade and economic policy issues which not only affect our industry, but which also promote economic growth across all sectors of the American economy."
 The 1992 Business Outlook Conference was sponsored by the National Retail Federation and Management Horizons, a division of Price Waterhouse. The conference was attended by over 150 professionals. A copy of John J. Shea's speech is available by contacting Debbie Koopman at 708-218-7980.
 Spiegel, Inc. is the dominant multi-channel specialty retailer marketing fashionable apparel and home furnishings to discerning customers through catalogs and over 250 specialty retail stores. Spiegel's businesses include Eddie Bauer, Crayola Kids and For You from Spiegel. Spiegel's Class A non-voting common stock trades on the NASDAQ-NMS.
 -0- 4/9/92
 /CONTACT: Debbie Koopman of Spiegel, 708-218-7980/
 (SPGL) CO: Spiegel, Inc. ST: Illinois IN: REA SU:


AH-KH -- NY074 -- 6876 04/09/92 15:04 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 9, 1992
Words:433
Previous Article:STROEHMANN BAKERIES PRESIDENT RESPONDS TO DINKINS' STATEMENTS ON TAYSTEE PLANT
Next Article:THE NEW YORK TIMES COMPANY CREATES CUSTOM PUBLISHING GROUP


Related Articles
SPIEGEL TO CLOSE ITS 17 HONEYBEE STORES
SPIEGEL REPORTS FIRST QUARTER RESULTS
SPIEGEL REPORTS THIRD QUARTER RESULTS
SPIEGEL, INC. REPORTS 24 PERCENT GAIN IN FOURTH QUARTER SALES
SPIEGEL, INC. NAMES RICHARD T. FERSCH NEW PRESIDENT FOR EDDIE BAUER
SPIEGEL, INC. REPORTS JULY SALES RESULTS
SPIEGEL CEO ADDRESSES TECHNOLOGY REVOLUTION IN RETAILING
SPIEGEL, INC. REPORTS DECEMBER SALES
SPIEGEL, INC. NAMES JOHN W. IRVIN PRESIDENT OF SPIEGEL CATALOG DIVISION
Spiegel, Inc. Announces Retirement of Vice Chairman, President and CEO

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters