Decreased store traffic and lower direct channel sales shrunk Coldwater Creek Inc.’s second-quarter profits by 63.9 percent, but the women’s clothing retailer still managed to beat analysts’ earnings estimates.
For the quarter ended Aug. 2, the Sandpoint, Idaho-based company reported net income of $3.1 million, or 3 cents a share, compared with earnings of $8.7 million, or 9 cents a share, for the 2007 period. Analysts anticipated earnings per share of 1 cent on revenues of $242.5 million.
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