8-K

                            UNITED STATES
                  SECURITIES AND EXCHANGE COMMMISSION
                       Washington, D.C. 20549


                              FORM 8-K
                           Current Report
                Pursuant to Section 13 or 15d of the
                  Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) :   February 27, 2003

                            SPIEGEL, INC.

   (Exact name of registrant as specified in its charter)


  Delaware                 0-16126             36-2593917
 (State of                 (Commission file    (I.R.S. Employer
                            number)             Identification No.)

   3500 Lacey Road
   Downers Grove, IL                            60515-5432
  (Address of principal executive offices)      (Zip Code)


                            (630) 986-8800
       (Registrant's telephone number, including area code)

                               No Change
  (Former name or Former address, if changed since last report)

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Item 5. Other Events

On February 27, 2003, the Registrant issued the press release attached hereto
as Exhibit 99 and incorporated herein by reference.

Item 7.  Exhibits.

(c) Exhibits

    Exhibit 99       Press release dated February 27, 2003

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SIGNATURES

Pursuant to the requirements of the Securities Exhchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                       SPIEGEL, INC.
                                       (Registrant)

Dated:   February 27, 2003            By: /s/ James M. Brewster
                                     -------------------------
                                     James M. Brewster
                                     Senior Vice President
                                     and Chief Financial Officer
                                     (Principal Accounting and
                                      Financial Officer)

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EXHIBIT INDEX

Exhibit No.

99           Spiegel, Inc. press release dated February 27, 2003.

EX-99

Exhibit 99


The Spiegel Group Appoints James M. Brewster Chief Financial Officer

John Steele Promoted to Senior Vice President and Treasurer

DOWNERS GROVE, Ill. - February 27, 2003 - The Spiegel Group (Spiegel, Inc.)
today announced that it appointed James M. Brewster senior vice president
and chief financial officer for The Spiegel Group on February 26, 2003.
For the past 10 years, Brewster has served as senior vice president and
chief financial officer for the company's Newport News subsidiary.
"We are delighted to have someone with Jim's capabilities to step into the
position of chief financial officer and make an immediate and meaningful
contribution at the corporate level," said Martin Zaepfel, vice chairman,
president and chief executive officer of The Spiegel Group.
As senior vice president and chief financial officer of The Spiegel Group,
Brewster will report to the CEO and will have responsibility for the
company's financial planning and controls as well as the company's
strategic activities in the legal, tax, investor relations and loss
prevention functions.
Brewster joined Newport News in 1986 as manager of financial systems and
moved up through the organization, serving as director of finance, director
of inventory control, vice president and treasurer, and vice president and
chief financial officer before being promoted to senior vice president and
chief financial officer in 1992.  Prior to joining The Spiegel Group, Jim
worked in various financial positions in banking and public accounting in
Norfolk, Va.
A certified public accountant, Jim earned a bachelor's degree in business
administration from Hofstra University, Long Island, New York.
In addition, the company announced that on February 26, 2003, John Steele
was promoted to senior vice president and treasurer of The Spiegel Group,
from his current position of vice president and treasurer of The Spiegel
Group.  He will now report to the company's CEO.
Prior to joining The Spiegel Group in 1993, Steele was vice president and
corporate finance director for Deutsche Bank AG in Chicago.  He also has
held the position of vice president at Bank of America and at Continental
Bank of Chicago, where he began his career and held a number of financial
positions.
Steele earned a bachelor of arts degree and a master of business
administration degree at Indiana University.  He also attended Hamburg
University in Hamburg,Germany, and Harlaxton Manor in Grantham, England.

About the Company
The Spiegel Group is a leading international specialty retailer marketing
fashionable apparel and home furnishings to customers through catalogs,
560 specialty retail and outlet stores, and e-commerce sites, including
eddiebauer.com,newport-news.com and spiegel.com.  The Spiegel Group's
businesses include Eddie Bauer, Newport News, Spiegel Catalog and First
Consumers National Bank.  The company's Class A Non-Voting Common Stock
trades on the over-the-counter market ("Pink Sheets") under the ticker
symbol: SPGLA.  Investor relations information is available on The Spiegel
Group Web site at http://www.thespiegelgroup.com.

Forward Looking Statements
This report contains statements that are forward-looking within the meaning
of applicable federal securities laws and are based upon the Company's
current expectations and assumptions.  You should not place undue reliance
on those statements because they speak only as of the date of this report.
Forward-looking statements include information concerning the Company's
possible or assumed future results of operations.  These statements often
include words such as "expect," "plan," "believe," "anticipate", "intend,"
"estimate," or similar expressions.  As you read and consider this report,
you should understand that these statements are not guarantees of
performance or results.  They involve risks, uncertainties and assumptions.
Although the Company believes that these forward-looking statements are
based on reasonable assumptions, you should be aware that many factors could
affect our actual financial results and actual results could differ
materially from the forward-looking statements.  These factors include, but
are not limited to, the uncertainty regarding the Company's ability to enter
into new credit facilities with its lending institutions, uncertainty
regarding the Company's ability to amend its existing agreement with MBIA,
the occurrence and effects of an early amortization events ("Pay Out Events")
of the Company's asset-backed securities,the uncertainty relating to the sale
or liquidation of the bankcard segment;increased oversight or restrictions by
the OCC on the bankcard segment which could reduce the market value of the
bankcard segment; the risk associated with fulfilling the obligations set
forth in the Bank's disposition plan; the availability of future liquidity
support from the Company's majority stockholder; reduction in cash available
from the Company's securitization transactions; the financial strength and
performance of the retail and direct marketing industry; changes in consumer
spending patterns; dependence on the securitization of credit card
receivables to fund operations; state and federal laws and regulations
related to offering and extending credit; risks associated with collections
on the Company's credit card portfolio; interest rate fluctuations; postal
rate increases; paper or printing costs; the success of planned merchandising,
advertising, marketing and promotional campaigns; and various other factors
beyond the Company's control.
All future written and oral forward-looking statements made by the Company
or persons acting on the Company's behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to above. Except
for the Company's ongoing obligations to disclose material information as
required by the federal securities laws, we do not have any obligation or
intention to release publicly any revisions to any forward-looking statements
to reflect events or circumstances in the future or to reflect the occurrence
of unanticipated events.