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.
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)