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Coldwater Creek to grow retail stores in fiscal 2006

Nov '05
Leading women's apparel, accessory shoe & gift retailer Coldwater Creek Inc announced it has increased its 2006 retail store expansion and now plans to open approximately 65 new full-line stores in 2006. The company previously had said it planned to open approximately 60 stores next year.

"The effective execution of retail expansion strategy this fiscal year, combined with continued favorable response to their retail store concept, points to what they believe is a strong opportunity to gain market share by putting additional stores in key national markets in 2006," said Coldwater Creek Chairman and Chief Executive Officer Dennis Pence.

"Company retail team is solidly on track to add a total of 60 stores this year, for a total of 174 locations in operation by the holiday selling season. Based on their current plan, they now expect to have 239 stores in operation before Thanksgiving 2006."

Executive Vice President of Sales & Marketing Dan Griesemer said locations have been confirmed and approved for next year and the company currently is reviewing locations for 2007. The Coldwater Creek stores planned for 2006 will be approximately 500 square feet larger than previously planned and will now average 5,500 square feet, he added.

"They've learned from positive experience that unique mix of apparel, accessories and hard goods lends itself to a slightly larger store footprint and also supports their efforts to build brand awareness in both malls and lifestyle centers,"

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