Coldwater Creek Inc. reported net sales for the fiscal second quarter ended July 29 increased 41.2 percent to $216.4 million. Same-store increased 13.3 percent during the same period.
The Sandpoint, ID-based apparel merchant’s net income for the three-month period increased 93.7 percent to $12 million, or $0.13 per diluted share.
Net sales in the first six months of fiscal 2006 increased 39.7 percent to $431.7 million. Net income during the same period increased 60.5 percent to $23.6 million, or $0.25 per diluted share.
Although the majority of Coldwater Creek’s growth continues to come from its retail stores, which currently represent approximately two-thirds of its total business, Internet and catalogs also delivered higher second-quarter sales compared to a year ago, the company said.
Net sales from the retail segment increased 52.3 percent to $143.8 million in the second quarter. Retail sales represented 66.5 percent of the company’s total net sales in the second quarter, compared with 61.6 percent last year.
Net sales from the retail segment increased 52.8 percent to $272.4 million in the first six months of fiscal 2006. Retail sales represented 63.1 percent of the company’s total net sales in the first six months, compared with 57.7 percent last year.
Direct segment net sales increased 23.4 percent to $72.6 million in the second quarter. Direct segment net sales represented 33.5 percent of the company’s total net sales in the second quarter, compared with 38.4 percent last year.
Direct segment net sales increased 21.9 percent to $159.3 million in the first six months of fiscal 2006. Direct segment net sales represented 36.9 percent of the company’s total net sales in the first six months, compared with 42.3 percent in the same period a year ago.
Internet net sales increased 30.1 percent to $49.9 million in the second quarter. Internet net sales represented 68.7 percent of the direct segment’s net sales in the second quarter, compared with 65.2 percent last year. Internet net sales represented 23 percent of the company’s total net sales in the second quarter, compared with 25 last year.
Internet net sales increased 32.8 percent to $105.4 million in the first six months. Internet net sales represented 66.2 percent of the direct segment’s net sales in the first six months, compared with 60.8 percent in the same period last year. Internet net sales represented 24.4 percent of the company’s total net sales in the first six months, compared with 25.7 percent last year.
Catalog net sales increased 10.8 percent to $22.7 million in the fiscal 2006 second quarter from $20.5 million in the fiscal 2005 second quarter. Catalog net sales represented 31.3 percent of the direct segment’s net sales in the second quarter, compared with 34.8 percent last year. Catalog net sales represented 10.5 percent of the company’s total net sales in the second quarter, compared with 13.4 percent last year.
Catalog net sales increased 5 percent to $53.9 million in the first six months. Catalog net sales represented 33.8 percent of the direct segment’s net sales in the first six months, compared with 39.2 percent last year. Catalog net sales represented 12.5 percent of the company’s total net sales in the first six months, compared with 16.6 percent last year.
Chico’s FAS Inc. on Aug. 23 reported that net sales for the second quarter ended July 29 increased 18 percent to $405 million. Same-store sales increased 5.7 percent during the same period.
Fort Myers, FL-based Chico’s second quarter net income rose to $54 million, or $0.30 a diluted share, compared to net income of $49 million, or $0.27 a diluted share in the prior year’s second quarter.
For the six months ended July 29, 2006, net sales increased 18.9 percent for a total of $797 million. Same-store sales increased 6.2 percent during the same period.
Net income for the six month period rose to $106 million, or $0.59 a diluted share, compared to net income of $96 million, or $0.53 a diluted share in the prior period.
Catalog and Internet sales saw an overall 73 percent increase, principally because of the addition in fiscal 2006 of catalog and Internet sales of WH|BM and Fitigues merchandise and a stepped up presence of Soma merchandise in its catalogs and on the Internet. The Chico’s brand by itself experienced a 31 percent increase in catalog and Internet sales.
The company expects the Chico’s brand to report a same-store sales decrease in August, its first in some time.
