Coldwater Creek Inc. posted nearly $28 million in second-quarter losses, but chairman and chief executive officer Dennis Pence said the closure of up to 45 doors as well as a new design direction would help return the firm to profitability.
“We took action early in the quarter on our slower-moving styles and ended the quarter with inventory per square foot down 16 percent,” Pence told analysts on a conference call. “We continue to tightly manage our expenses and ended the quarter with [selling, general and administrative expenses] down in excess of $12 million compared to a year ago.”
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)