Coldwater Creek Net Income Up Slightly

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Coldwater Creek Inc., Sandpoint, ID, reported yesterday that net income in the three-month period ended May 3 increased $500,000, or 35.4 percent, to $1.9 million, compared with $1.4 million during the comparable period last year. Net sales jumped 8.4 percent to $115.2 million from $106.2 million.


Net sales from the Direct Segment, which includes the catalog and e-commerce businesses, fell 0.1 percent to $81.9 million from $82 million.


Catalog net sales increased 0.2 percent to $46 million from $45.9 million while e-commerce net sales dropped 0.5 percent to $35.9 million from $36.1 million.


Gross profit totaled $45.1 million, or 39.2 percent of net sales, compared with $45 million, or 42.3 percent of net sales, for the fiscal 2002 first quarter.


Income from operations reached $3 million, or 2.6 percent of net sales, compared with income from operations of $2.4 million, or 2.2 percent of net sales, in 2002.


Active customers, defined as those who purchased merchandise from the company via any of its three sales channels during the past 12 months, increased to 2.61 million during the three months ended May 3 from 2.46 million last year. Also, catalogs mailed fell to 29.99 million from 31.77 million.


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