Coldwater Creek’S Stock Shoots Higher

Coldwater Creek Inc. was one of the best performers on Wall Street Friday.

The company’s stock rose nearly 38 percent following the Sandpointbased retailer’s announcement of higher-than-expected sales.

Coldwater Creek’s stock closed at 13-5/8, up from 9-7/8, with more than half a million shares traded.

Coldwater Creek reported net sales of $94.7 million for the three-month period ending Nov. 28.

That’s a 23 percent sales increase for the Sandpoint-based catalog retailer, compared with the same period last year, the company said.

Net income for the three-month period was $4.5 million, or 44 cents per basic share.

Gross profits increased to $49 million, a 24 percent increase from the same period last year.

Coldwater Creek also reported increased sales from its Web site. Internet sales are “still not material to the company’s overall financial results,” officials said. But the increase was substantial enough for Coldwater Creek to accelerate its timeline and offer more products online by the end of June.

Coldwater Creek sells clothing, jewelry, gifts and home furnishings.