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The Great Depression had a negative impact on Spiegel's business. In , Spiegel's stock dropped to its lowest price of 7 cents. The following year, the Spiegels began gradually liquidating their retail furniture business.
By , the last Spiegel furniture store in Chicago closed its doors. After experiencing considerable economic losses in the early years of the Depression, Spiegel entered a period of growth and profits beginning in During this time, M.
Spiegel, son of Modie, took over the leadership of the company. When sales began to level off in , Spiegel reacted by shifting its attention to consumers in a higher income bracket.
The company began adding dozens of brand names with national reputations to its catalog. The new approach was referred to as the "quality concept," and it brought success.
The onset of World War II was disastrous for Spiegel. As much manufacturing had been shifted to wartime production, many of the products that were popular catalog items were no longer available in large quantities.
Moreover, a shortage of labor affected the company's operations, and when buying on credit was officially discouraged by the US government, Spiegel management had to discard its "No Charge for Credit" policy.
That year, Spiegel acquired 46 Sally dress shops in Illinois. Several other chains were purchased over the next few years, and by , Spiegel was operating retail stores featuring a wide range of merchandise, including clothing, furniture, and auto supplies.
After an initial success in retail, the costs of retail operations began to outweigh the benefits. By the mids, Spiegel was again concentrating on its former mainstay, mail order sales on credit.
Although nearly all of the company's retail outlets were sold off by , several catalog shopping centers were retained so that customers could ask questions and place orders with company representatives.
The idea was to add as many names as possible to the Spiegel customer list. The company also began to include a widening range of products in its catalogs.
This included outdoor products such as mowers and tillers  and boats by the name Brooklure  as well as other products such as instruments.
In addition, Spiegel was selling pets. In , after a century of operation as a family business, Spiegel was purchased by Beneficial Finance Company.
Spiegel stockholders received shares of Beneficial stock, and Spiegel became a wholly owned subsidiary of Beneficial. Spiegel benefited from television exposure and advertising in the form of prizes given away on several game shows, most notably The Hollywood Squares and Let's Make a Deal.
Announcers emphasized Spiegel's large catalog offerings in on-air promotional announcements and included Spiegel's Chicago zip code, Often these programs would award contestants gift certificates of a certain dollar amount toward catalog items, giving winners the flexibility to choose their own prize.
During the early s, several charges were leveled against Spiegel by the Federal Trade Commission FTC regarding some of the company's marketing tactics.
In , the FTC accused Spiegel of failing to adequately disclose credit terms in some of its statements and catalog ads.
The company also was cited for its handling of credit life insurance policies, as well as for offering free home trials without informing customers that credit approval was required before a product would be shipped.
Most of the complaints brought by FTC during this period were settled by changes in company practices, and serious action by the government was generally avoided.
Rising interest rates in the mids made financing credit accounts costly. Also during that time, Spiegel began to feel the pressure of competition from discount stores such as Kmart , which were rapidly establishing a national presence.
In , to help turn the company around, Beneficial hired Henry "Hank" Johnson, a veteran of the mail order operations of Montgomery Ward and Avon.
One of Johnson's first moves was to streamline company management. Dozens of executives were let go, and overall employment was cut in half over the next five years, from 7, in to 3, in Johnson also closed Spiegel's remaining catalog stores.
Johnson changed Spiegel's image to that of a "fine department store in print. Merchandise bearing designer labels began appearing in , when the company introduced a line of Gloria Vanderbilt products.
Spiegel soon became a trendsetter in the catalog business, which was booming as a whole during the early s. The company's sales grew at an impressive pace of 25 to 30 percent a year.
Although Spiegel still ranked fourth in catalog sales during this time, trailing Sears , J. Penney , and Montgomery Ward , the company's strategies were being followed closely by its larger competitors.
In , Beneficial sold Spiegel to Otto-Versand GmbH , a large, private West German company prominent in catalog sales.
Under its new ownership, Spiegel's transformation into an outlet for higher-end products continued. In , Spiegel began distributing specialty catalogs in addition to its four primary catalogs; 25 of these specialty catalogs were in circulation by , featuring Italian imports, plus-sized clothing, and other specialty items.
In , six million shares of nonvoting stock was sold to the public, marking the first time since that Spiegel was not completely privately held.
In , Spiegel acquired Eddie Bauer, Inc. In the first year following the acquisition, the chain was expanded from 60 to 99 stores.
By , Spiegel had become the number three catalog retailer in the United States, with a total circulation of about million catalogs, including 60 different specialty catalogs, and an active customer base of five million.
In , Spiegel acquired First Consumers National Bank FCNB , which began issuing credit cards and statements to Spiegel and Eddie Bauer customers.
The company began to expand its retail outlet operations based on lines from its catalogs. In spite of these innovations, the company's growth stagnated due to the national economic recession, and earnings declined sharply in Eddie Bauer performed particularly well, having grown to stores.
In August , Spiegel announced its purchase of Newport News formerly Avon Fashions , a catalog company specializing in moderately priced women's clothing.
Later that year, Spiegel unveiled a new specialty catalog, E Style, featuring a clothing line aimed at African-American women. That same year, Sears discontinued its Big Book catalog sales operation and Spiegel and other specialty catalog retailers scurried to pick up the leftovers and increase their own share of the market.
Between Spiegel and Eddie Bauer, 81 different catalogs, with a total circulation of more than million, were distributed in In , Spiegel formed a joint venture with Time Warner Entertainment to create two home shopping services for cable television.
One of the services was named "Catalog 1," and was planned as a one-channel showcase for a roster of numerous upscale catalog retailers, each of which would sell its goods using innovative entertainment-style shows.
Spiegel also teamed up with Lillian Vernon, Lands' End , and other catalogers in to create a computerized CD-ROM catalog.
Around this time, Spiegel seriously began considering an entrance into the electronic shopping market through an online service such as America Online AOL.
In , Spiegel did just that—but at the expense of its year-old Catalog 1 venture. Accordingly, they scaled back their cable television operation and began working on a home page through Time Warner 's popular Pathfinder site.
Spiegel also initiated an entrance into the Canadian market in and planned to distribute its catalog there by the spring of Previous strong Eddie Bauer business in Canada aided the company's decision to move in on a larger scale, as did the company's good distribution agreements in Canada.
Meanwhile, Eddie Bauer was doing extremely well in Japan, where the company had placed numerous retail stores throughout the previous few years.
The year marked the most profitable year in Eddie Bauer's history, and Spiegel's revenues benefited. Eddie Bauer's merchandise was so popular that year, in fact, the company suffered through many delays in shipping and out-of-stock merchandise occurrences that were direct results of increased consumer demand.
Eddie Bauer also made headlines in when it introduced "Balance Day" to its employees, which was an extra day off per year to do anything they wanted.
The addition demonstrated the company's commitment to providing innovative benefits to its workers, and employees began referring to it as "call in well day.
Regardless of Eddie Bauer's huge contribution to its parent company, however, the subsidiary had a very rough year. In addition, the new Eddie Bauer merchandise offerings did not hit home with consumers; thus the company was left with too much stock and no means of selling it all.
In the August 17, , issue of the Puget Sound Business Journal, Eddie Bauer's president and CEO, Rick Fersch, commented on the company's problems: "We were overplanned, overstocked, overstyled, overcolored--and it was overwarm last winter and that meant trouble.
The year , however, brought additional challenges for the Eddie Bauer enterprise and, subsequently, for Bauer's parent company.
Warmer than usual winter weather, brought about by a highly publicized weather phenomenon known as El Nino ,  once again hurt Bauer's sales figures.
Spiegel set out to halt its downward spiral and achieve profitability again. The company redesigned its Spiegel catalog ,  which had become something of an amalgam of differing—and often conflicting—items and images.
Eddie Bauer also launched efforts to get itself back on track. By the end of the year, Spiegel announced that its efforts had been fruitful and that the company had achieved earnings once again.
Although its revenue dipped during , the company inked a profit and achieved positive cash flow, according to a fiscal year-end document released by Spiegel in early Eddie Bauer's performance, unfortunately, disappointed again during the year, but Spiegel's other lesser-known subsidiary catalog, Newport News, posted solid results.
Late in the year, rumors surfaced that the company's positive results had led to numerous unsolicited purchase offers, including one from Arizona-based IG Holdings.
As the new millennium approached, Spiegel had many obstacles to overcome. Relying on its past proven ability to adapt to changes in customer tastes and trends in competition, the company was attempting to maintain this status.
After years of economic decline the company suffered large financial losses and changed ownership three times within ten years. The inability to stabilize management and its infrastructure crippled the billion-dollar empire.
As a result, Speigel underwent numerous ownership and leadership changes. In , Spiegel filed for bankruptcy and reorganization under the bankruptcy code.
This included closing 60 Eddie Bauer stores. At the same time, the reorganizing company retained its Eddie Bauer unit and eventually assumed the name.
From , Spiegel and the women's fashion catalog Newport News operated under the name Spiegel Brands, Inc. In , Spiegel was sold to an investment group led by Granite Creek Partners.
In June , Spiegel became a Lynn Tilton company following its sale to the private equity fund Patriarch Partners, LLC, and is currently operated under the name Spiegel LLC, having done business from as Signature Styles, LLC and Artemiss LLC respectively.
Spiegel's headquarters were moved to New York City. In , the leadership at Spiegel was replaced. Edit the entry Delete the entry Add a suggestion Add comment Validate!
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Der ganzflächige Spiegel bietet Breitbandfunktionalität über einen geeigneten Frequenzbereich. The all-over mirror offers a broadband functionality over an appropriate frequency range.
A mirror , in particular, is suitable as deflection element. Die Wissenschaftler deuten dies als Spiegel der Ernährung der stillenden Höhlenbärmutter.
The scientists interpret this finding as a reflection of the nursing female's diet. Our customers represent a reflection of our work and are our motivation.
Schaukasten mit einer Front aus einem teildurchlässigen Spiegel. Show-case with a front consisting of a partially transparent mirror.
Vorrichtung mit Spiegel der in Röntgenstrahlung- oder Neutronenbereich arbeitet.