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Coldwater Creek selects a woman to head the company, starting Jan. 1

Sandpoint women's clothing retailer Coldwater Creek did an interesting thing on Wednesday. It appointed a woman as the next CEO.

The women's apparel retailer said its co-founder and CEO Dennis Pence will retire at the end of 2012.

Jill Brown Dean, the current president and chief merchandise buyer,  will take over as CEO on Jan. 1.

The company reported a smaller-than-expected third quarter loss, helped by higher comparable premium retail store sales and improved margins. In after hour trading Wednesday, the stock moved upward, approaching the $5 mark for the first time in a long while.

Normal Wednesday trading closed at $4.87 on the Nasdaq.

Coldwater Creek has been posting losses for more than two years. It has been losing out to larger rivals such as Chico's FAS  and Ann Taylor Stores Corp.


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