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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)