Coldwater Creek Expects Q4 Loss

Share this content:
Coldwater Creek estimates that a disappointing holiday season will lead to a fourth-quarter 2001 loss of $4.4 million to $4.9 million, the catalog retailer revealed yesterday.


Customer demand failed to meet the company's expectations during the season, Coldwater Creek executives said. The company said it did not expect sales to rebound until September 2002, when the fall catalog and retail season begins.


The poor fourth-quarter 2001 performance was softened by the company's efforts to reduce inventory, executives said. The company said it has inventory levels valued at $76 million to $78 million, millions lower than earlier projections that put Coldwater Creek's inventory in the $90 million range by this time.


Coldwater Creek, Sandpoint, ID, said earlier this month that it would close a distribution center at its headquarters, shut two clearance outlets and reduce its corporate staff, which will result in the layoff of about 220 employees. The cuts are expected to be complete by March 1.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above