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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"