Web Sales Give Coldwater A Boost

Thu., Sept. 21, 2000

From Staff

Rapid growth in Internet sales helped boost Coldwater Creek Inc.’s second quarter income.

The Sandpoint company reported net income of $1.8 million, or 17 cents per share, compared with $1.4 million for the same period last year. Coldwater Creek began as a catalog company. During the past 18 months, the company has added a Web site and expanded its number of retail stores to five. Four more Coldwater Creek stores will open in Cincinnati, Denver, Chicago, and Mission Viejo, Calif., before Christmas.

Net sales for the second quarter were $78 million, up 30 percent from last year. Online sales were $18.8 million, up from $2.3 million for the same quarter last year.

Coldwater Creek’s best customers now buy from more than one shopping channel, Chairman and CEO Dennis Pence told analysts during a conference call Wednesday.

Company stock closed at $33.25 per share Wednesday, up 3 percent.

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Web Sales Give Coldwater A Boost

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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