By  on March 10, 2009

Cost cutting and inventory management weren’t enough to offset sinking consumer demand as multichannel misses’ apparel retailer Coldwater Creek Inc. widened its fourth-quarter loss.

For the period ended Jan. 31, the Sandpoint, Idaho-based firm recorded a net loss of $18.6 million, or 20 cents a diluted share, compared with a net loss of $17 million, or 19 cents a share, for the year-ago quarter. Revenue fell 18 percent, to $283.2 million, from $345.5 million last year. By segment, direct sales dropped 30 percent to $83.5 million, and retail sales slid 11.7 percent to $199.7 million with same-store sales down 21.4 percent.

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