The mysterious management situation at Spiegel Inc. appears to be clarifying itself– slightly. Back in June, the Downers Grove-based catalog company announced it was creating a three-man office of the president to replace longtime CEO Jack Shea, who resigned abruptly after two years of poor results.
The three included Michael Moran, Spiegel’s general counsel; James Sievers, chief financial officer; and Harold Dahlstrand, its top human resource executive. The arrangement looked like a stop-gap measure, but the troika insisted last summer it was a long-term, workable arrangement.
Last week, however, Dahlstrand was named vice chairman of the board, elevating him above his two co-presidents. And Otto Versand–the German catalog company owned by Spiegel’s largest shareholder and chairman, Michael Otto–strengthened its presence on the retailer’s board with the addition of two of its own officers.
The realignment occurred only two days before Spiegel announced overall sales had declined 5 percent in the five weeks ended Nov. 29. And same-store sales at its Eddie Bauer chain were off 8 percent.
Given that showing, some more management clarification is likely on the way.
Chilling news: Consumer confidence is high, unemployment is low, the holiday selling season should be great. So goes the logic for those who believe Christmas 1997 actually will deliver on retailers’ high hopes for the first time in four years.
Yet cautious shoppers are heading for bargains and practical items such as appliances.
Perhaps they’re reading the news. Last month U.S. companies announced 47,241 job cuts, 60 percent more than in November last year, according to Challenger, Gray & Christmas, the Chicago-based outplacement firm. That follows a grisly October, when 47,320 jobs bit the dust.
“Consumers remember all too well that January typically brings the next round of significant cuts,” warns John Challenger, executive vice president.
Moving up: Lands’ End, the Dodgeville, Wis.-based cataloger, said Lori A. Liddle has been named vice president and managing director of Lands’ End catalog, effective Jan. 1. In her new position, Liddle will be responsible for the profitability of the regular monthly Lands’ End catalog.
Her boss, Vice Chairman William E. Ferry, says Liddle, 36, already has proved her mettle, building Lands’ End’s kids catalog into a major business since 1995.
But her new post undoubtedly will be tougher. The Lands’ End monthly book, with its collection of classic adult clothing, is close to being a mature business, growing much more slowly than the specialty catalogs.
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It’s Liddle’s chance to change that.