Coldwater Creek income up sharply

Strong sales of full-priced merchandise helped Coldwater Creek post third-quarter income of $9.4 million, company officials announced Tuesday.

The income, which amounted to 23 cents per share, compared to net income of $5.6 million, or 15 cents per share, during the third quarter of 2003.

Coldwater Creek’s third quarter ended Oct. 30. Net sales during the period were $150.5 million, an increase of nearly 9 percent over the same period last year.

“Our fall collection was well-received, featuring a colorful assortment of novelty jackets, travel knits, stretch jeans, T-shirts and bottoms that generated favorable customer response at full price,” said Georgia Shonk-Simmons, Coldwater Creek president and chief merchandizing officer.

Ongoing cost control initiatives and leveraging of retail store expenses also contributed to income and profits during the third quarter, said Dennis Pence, chairman and chief executive officer of the Sandpoint retailer.

Coldwater Creek plans to open 60 new retail stores during fiscal 2005.