Home / Knowledge / News / Apparel/Garments / Coldwater Creek restructuring to help save $20-25mn
Coldwater Creek restructuring to help save $20-25mn
30
Oct '13
Coldwater Creek Inc announced a restructuring and cost reduction program that is expected to generate $20 to $25 million in pre-tax savings in fiscal 2014. This program is designed to improve the financial and competitive position of the Company by streamlining the organization, reducing expenses, and positioning the Company for enhanced efficiency and profitability. As part of this restructuring initiative, the Company has reduced its full-time corporate workforce expense by approximately 20%.

"The decision to downsize our workforce, in conjunction with our other cost reduction initiatives, was a very difficult one. However, we believe that it is a necessary step for the long-term success of the Company as we strive to right-size our infrastructure to adapt to changes in our business," said Jill Dean, President and Chief Executive Officer of Coldwater Creek. "We appreciate the many contributions of all our employees, and we will provide support to those affected during this transition period."

Coldwater Creek continues to make progress on its previously announced operational initiatives involving inventory, expense management, and store optimization. The Company expects to continue to realize further meaningful benefits from these strategies.

The Company expects to incur a pre-tax charge of approximately $3.0 million for severance and other expenses associated with the restructuring program in the fiscal third quarter of 2013.

Coldwater Creek is a leading specialty retailer of women's apparel, jewelry, and accessories. The Company was founded in 1984 in Sandpoint, Idaho, and sells its merchandise through premium retail stores across the country, online, and through its mobile applications.

Coldwater Creek


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search