Coldwater Creek Sees Income Rise as It Lessens Catalog Focus

Share this article:
Coldwater Creek Inc., Sandpoint, ID, reported net income yesterday of $3.4 million for the second quarter compared with a net loss of $1.4 million last year. Net sales were up 15.1 percent.


For the six-month period, net income was $8.9 million versus $500,000 last year. Net sales for the first six months increased 11.2 percent over last year.


Net sales from the direct segment, which includes the company's catalog and e-commerce businesses, decreased 10.9 percent to $49.9 million in the second quarter from $56.1 million last year. For the first six months, net sales from the direct segment decreased 14.5 percent to $117.9 million from $138 million a year ago.


"In keeping with our strategic shift toward a retail store-based business model, we reduced catalog circulation 32.3 percent in the second quarter, and catalog net sales fell 26 percent compared with the prior year," chairman/CEO Dennis Pence said in a statement. "Meanwhile, our e-commerce net sales climbed by 9.8 percent during the period [because of] effective e-mail promotions."


This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions