By  on November 5, 2008

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.

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