Coldwater Creek board weighing its options
Coldwater Creek may be for sale as executives of the Sandpoint-based women’s apparel company look for ways to boost the bottom line.
An announcement by the board of directors on Monday said Coldwater Creek will consider several options, including partnerships, joint ventures or a sale.
No deadlines were set.
Coldwater Creek remains mired in an earnings downturn. Its last profit was in the second quarter of 2010. After its most recent quarterly loss, management said, “despite cost-cutting initiatives and real estate optimization activities, the company expects third-quarter results to be below its previous guidance.”
Monday’s announcement also said company officials will suspend providing quarterly guidance until “business returns to a more predictable cadence.”
Launched in 1984, Coldwater Creek operates about 340 retail stores, 36 factory stores, eight spas and an e-commerce website. The company plans to close six more stores, bringing the total of store closures to 45 since 2011.
NY Times adding name to Paris-based daily
PARIS – The New York Times Co. is rebranding its Paris-based daily, the International Herald Tribune, as the International New York Times – a bid to lure readers abroad amid the upheaval of the digital era facing traditional newspapers.
Executives say the rechristening today aims to get the most out of its brand, and complete a gradual fusion of the newspapers’ editorial staffs in recent years. The Times took control of the IHT a decade ago by buying the stake of its co-owner, the Washington Post.
Macy’s opening stores on Thanksgiving Day
NEW YORK – Macy’s Inc. says it will open most of its stores for the first time on Thanksgiving, breaking a long-standing tradition for the venerable retailer.
In a release issued late Monday, the Cincinnati-based chain said it will open its doors at 8 p.m. on that day and will remain open for 24 hours straight until the close of business Friday, which is usually about 10 p.m. Last year, the chain opened its doors at midnight right after the holiday. The department store chain cited increasing demand from shoppers for the earlier opening.
The move comes as Macy’s faces growing pressure from rival stores and online merchants who are pushing deals on the holiday. Over the years, stores have been expanding their hours on the day after Thanksgiving to get ahead of the competition.