Coldwater Creek lowers fourth quarter expectations, but sees a turnaround

During fourth quarter of 2010 the company saw a loss of 40 cents per share.

In an an update to its fourth-quarter guidance, Coldwater CEO Dennis Pence said the women’s apparel retailer saw softer than expected sales in late December including post-Christmas sales.

The company’s fiscal year and quarter ends Jan. 28. It reports year-end results on March 7.

Pence said sales at the Creek’s premium stores during the last nine months of 2011 were 26 percent lower than the same period a year before.

But citing what he sees as a turnaround, Pence noted the fourth quarter’s 9 percent comparable decline in sales is a step in the right direction and reflects better management of inventory and expenses. The company said it expects to reduce expenses for the fiscal year by $20 million to $25 million.