Coldwater Creek Retail, Internet Sales Up, Catalog Sales Down
The multichannel marketer of women's apparel also reported that year-end net sales for fiscal 2004 totaled $590 million, a 14 percent gain over the previous year.
"Fiscal 2004 was a period in which we successfully opened 48 full-line retail stores and demonstrated the company's ability to execute our retail expansion strategy," chairman/CEO Dennis Pence said in a statement.
Net sales for the retail segment -- which includes full-line retail stores, resort stores and outlet stores -- jumped 48 percent to $98 million in the fourth quarter and 52.2 percent during the year to $296 million.
The retail segment represented 48 percent of the company's total net sales in the fiscal fourth quarter, compared with 39 percent in the same period a year ago. For the year, the retail segment's net sales represented 50 percent of Coldwater Creek's total net sales, compared with 37.5 percent a year ago.
In the direct segment, net sales totaled $106 million in the quarter, a 3 percent gain. For the year, however, net sales in the segment decreased 9 percent to $294 million.
Net sales for the Internet portion increased 25.5 percent to $62 million in the fourth quarter. For the year, online sales totaled $162 million, a 9 percent increase. The company's catalog net sales decreased 18 percent to $43.5 million in the quarter and fell 25 percent for the year. Catalog net sales totaled $132 million in 2004.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters