Coldwater Creek’s Q2 Loss Narrows

The retailer also narrowed its loss for the first half.

Coldwater Creek has has posted consecutive comp declines since the second quarter of 2007.

Coldwater Creek Inc.’s second quarter was hurt by lower sales in July.

For the three monts ended Aug. 3, the net loss was $16.4 million, or 54 cents a diluted share, from a net loss of $17.6 million, or 58 cents, a year ago. Net sales were down 8.5 percent to $149.7 million from $163.7 million, which included an 8.7 percent decline in retail sales to $118.6 million. The balance was from direct-to-consumer sales. The retailer said comparable-store sales fell 7.3 percent in the quarter.

For the six months, the net loss was $35.8 million, or $1.17 a diluted share, on an 8.4 percent decline in net sales to $305.4 million.


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Jill Dean, president and chief executive editor, said, “Sales were lower than planned in the second quarter, largely due to a deceleration in traffic during the month of July.”

She noted that the company is working extensively on aligning its merchandise assortment with its brand strategy.

For the third-quarter, the company said it expects retail store sales to be down high-single digits compared with a 7.3 percent rise in the year-ago quarter.