So far a double from last Aug.(See Post 1) This still has at least another double in it in the next year.
Coldwater Creek 1Q Profit Up 60 Percent
Wednesday May 25, 5:10 pm ET
Coldwater Creek Inc. Posts 60 Percent Jump in 1Q Profit on Strong Full-Price Sales
SANDPOINT, Idaho (AP) -- Catalog retailer Coldwater Creek Inc. on Wednesday said first-quarter profit swelled 60 percent, driven by the company's expansion of retail locations and strong full-price selling in stores and online.
Net income rose to $8.5 million, or 14 cents per share, from $5.3 million, or 9 cents per share, last year. Sales grew 25 percent to $155.6 million from $124.5 million.
Results beat analysts' consensus earnings estimate of 11 cents per share and sales forecast of $145.8 million, according to a survey by Thomson Financial.
Dennis Pence, chairman and chief executive, said that "favorable customer response to our full-price spring merchandise, coupled with increased merchandise purchasing power related to our retail expansion" helped boost the company's bottom line.
Coldwater opened five retail stores in the first quarter. Sales from 119 retail stores jumped 48 percent to $83.8 million from $56.5 million during last year's quarter, and Internet sales increased 18 percent to $41.1 million from $34.9 million.
Tempering earnings slightly, catalog sales decreased 7 percent to $30.8 million from $33 million last year.
Coldwater's main catalog, Northcountry, sells women's apparel, jewelry and art. |
