SPIEGEL AND EDDIE BAUER COMBINED CATALOG DISTRIBUTION FACILITY TO OPERATE AS DISTRIBUTION FULFILLMENT SERVICES, INC.
DOWNERS GROVE, Ill., Sept. 24 /PRNewswire/ -- Spiegel, Inc. announced today that its new, combined Spiegel and Eddie Bauer catalog distribution facility, currently under construction in Groveport, Ohio, will operate under the name Distribution Fulfillment Services, Inc. (DFS) and house one of the largest and most technologically advanced catalog fulfillment systems in the United States. Spiegel also announced that it will record a nonrecurring, after-tax charge of $20 to $25 million in the third quarter of 1993 to account for necessary expenditures associated with the closing of the current catalog distribution facility in Chicago. Spiegel, Inc., parent company of Eddie Bauer, announced the selection of the Groveport location in September 1992. The new facility is scheduled to begin shipping merchandise in July 1994. John J. Shea, vice chairman, president and chief executive officer of Spiegel, Inc., said, "This new distribution facility offers us the opportunity to combine our two largest catalog distribution efforts -- Spiegel and Eddie Bauer, enabling us to realize significant synergies between businesses, improved efficiencies and cost savings." Shea continued, "As we enter the home stretch of this facility's construction, we are very excited about the impact it will have on our businesses. The new DFS catalog distribution facility will not only include the latest fulfillment technology, but will also provide us with more flexibility in servicing our customers while controlling costs." Spiegel, Inc. is the nation's dominant multi-channel specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs and more than 280 specialty retail stores. Spiegel's businesses include Eddie Bauer, New Hampton, Crayola Kids, E STYLE, and For You from Spiegel. Spiegel's class A non-voting common stock is traded on the NASDAQ National Market System under the ticker symbol SPGLA. -0- 9/24/93 /CONTACT: Debbie Koopman of Spiegel, 708-769-2596/ (SPGLA)
CO: Spiegel, Inc.; Eddie Bauer ST: Illinois, Ohio IN: REA SU:
LG -- NY042 -- 5384 09/24/93 11:34 EDT
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|Date:||Sep 24, 1993|
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