Retail Sales Continue to Replace Direct at Coldwater CreekColdwater Creek Inc.'s net sales in the fiscal fourth quarter ended Jan. 28 climbed 41 percent to $287.9 million, the company said yesterday. Net income for the quarter soared $7.5 million, or 65.5 percent, to $18.9 million compared with $11.4 million in the year-ago period.
Net sales from Coldwater Creek's retail segment represented 57.5 percent of the company's total in the fourth quarter compared with 48.2 percent last year. Its direct segment net sales increased 15.7 percent to $122.4 million, representing 42.5 percent of total net sales in this period, compared with 51.8 percent last year.
Internet net sales were up 18.3 percent to $73.7 million, representing 60.2 percent of the direct segment's net sales compared with last year's 58.9 percent.
Catalog net sales increased 12 percent in the quarter to $48.7 million. Catalog net sales represented 39.8 percent of the direct segment's net sales in the quarter versus last year's 41.1 percent. Catalog net sales represented 16.9 percent of the company's total net sales compared with 21.3 percent last year.
Net sales in fiscal 2005 rose 33.5 percent to $788.2 million. Net income for the year jumped $17.6 million, or 60.6 percent, to $46.8 million.
Annual net sales from the retail segment represented 58.3 percent of the company's total versus 50.2 percent last year. The direct segment's net sales increased 11.7 percent for the year to $328.6 million.
Annual Internet net sales increased 23.6 percent to $200.6 million. Annual catalog net sales decreased 2.9 percent to $128 million.
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