Coldwater Creek not in compliance, Nasdaq says
Nasdaq told women’s clothing retailer Coldwater Creek Inc. it is not in compliance with listing rules, because the company filed an incomplete financial report, Coldwater Creek said Tuesday.
The company said it requested, and was granted, a hearing before a Nasdaq panel to appeal the judgment. The request automatically delays a possible delisting, pending the panel’s decision.
In the meantime, the company said it expects to file the completed quarterly report to bring it back into full Nasdaq compliance.
The company said it was unable to get all the required certifications for its quarterly 10-Q form on time, because its pending restatement of past financial results meant its independent accountant was unable to complete its review.
The company has been working to complete an amended annual 10-K financial report for the year ended Jan. 28, 2006.
Coldwater Creek said that once the independent review is completed, it expects to file a fully compliant quarterly 10-Q financial report for the quarter ended April 29.
Coldwater Creek shares fell 3 cents to $24.51 in after-hours trading on the INET electronic exchange. They had closed down 3 cents at $24.54 on the Nasdaq.
•The Home Depot Inc., the nation’s largest home improvement store chain, has set aside $30 million for stores and employees that provide good customer service.
The Atlanta-based company, which has tried to improve customer service in recent years as it faced increased competition from rival Lowe’s Companies Inc. of Mooresville, N.C., said Tuesday that selected store employees will get up to $1,000 monthly and $10,000 quarterly.
Stores selected will get up to $25,000 to use for employee gatherings or other types of community activities.
•Defense contractor Lockheed Martin Corp. has received a copy of a draft consent order proposed by federal antitrust regulators to approve the creation of a joint company with rival Boeing Co. to launch government rockets.
Lockheed received the draft from the Federal Trade Commission about 10 days ago, company spokesman Tom Jurkowsky said Tuesday. He was unaware of the content or how long Lockheed will review it before sending recommendations back to the FTC.
A Boeing spokesman did not immediately return a telephone call Tuesday.