Posts tagged: coldwater creek inc.
Sandpoint's Coldwater Creek released earnings numbers on Wednesday for the fourth quarter and fiscal year.
The basics: Fourth quarter produced a loss of $12.8 million, compared to a loss one year ago of $34.7 million.
For the 12 months ending Jan. 28, the loss was $99 million, versus $44.1 million for the previous fiscal year.
See a more detailed summary of the numbers in Thursday's Spokesman-Review at at Spokesman.com.
A few weeks ago Sandpoint-based clothing retailer Coldwater Creek (CWTR) was facing possibly delisting from the Nasdaq Exchange as its stock price dipped below $1.
Since then the stock has held steady and got to $1.13 last week.
As of market close on Wednesday, Coldwater was trading at $1.14 per share, a slight drop from the day's high of $1.20.
The company is reporting quarterly earnings in two weeks, and will likely discuss marketing and inventory options going into this year's important holiday season.
We have only three words for Coldwater Creek: hang in there.
Coldwater Creek Inc. today announced lower sales and a loss for the first quarter, results the Sandpoint company had forecast last month.
Net sales fell to $179.8 million, compared with $243.1 million a year ago. Comparable premium store sales fell 27.5 percent, Internet, mail order and other direct sales tumbled 33.6 percent.
The net loss was $30 million, or 32 cents per share, compared with net income of $2.3 million, or three cents per share, for the 2010 quarter.
The company closed two of its 373 stores during the quarter. Plans call for five new stores, and the closure of eight to 12 more by the end of the year.