Coldwater CEO pleased with improvement in Q1 results

04 Jun '10

4 min read

Store Openings
The Company opened four new premium retail stores and closed one premium retail store and one outlet store during the three-month period ended May 1, 2010, ending the quarter with 359 premium retail stores. The Company plans to open approximately 20 new retail stores in fiscal 2010.

Outlook
The Company expects to report a loss in the second quarter of fiscal 2010; however, it expects an improvement over the $0.05 loss per share in the second quarter of fiscal 2009. This assumes a mid-single digit year-over-year percentage increase in total net sales. For fiscal 2010, the company continues to expect that it will report earnings per share of between $0.08 and $0.12, with the majority of the earnings growth coming in the second half of the year. This compares to a fiscal 2009 loss per share of $0.61, which included charges of approximately $0.33 per share related to the income tax valuation allowance, separation agreement expenses, and non-cash asset impairment charges.

Founded in 1984, and headquartered in Sandpoint, Idaho, Coldwater Creek is a leading specialty retailer of women's apparel, gifts, jewelry, and accessories. The company sells its merchandise through premium retail stores across the country, online at coldwatercreek.com and through its catalogs.

Coldwater Creek Inc

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