Shares of Coldwater Creek Inc. lost almost one-quarter of their value Tuesday after the company reported preliminary third-quarter results well below Wall Street estimates and withdrew its fourth-quarter guidance in light of rapidly declining sales.
The Sandpoint, Idaho-based women’s apparel retailer said it anticipated third-quarter sales of about $225 million and a loss of 7 cents to 9 cents a share, reflecting a same-store sales decline of more than 20 percent. The company originally expected to end the quarter with earnings per share of between 2 cents and 7 cents on revenues of $261 million to $279 million. Analysts polled by Yahoo estimated EPS of 3 cents on sales of $264.9 million.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)