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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.
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.