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Cuts by the Creek

Multichannel misses' retailer Coldwater Creek Inc. is cutting the annual base salaries for its top executives by 15 percent, effective Feb. 1.

Multichannel misses’ retailer Coldwater Creek Inc. is cutting the annual base salaries for its top executives by 15 percent, effective Feb. 1.

Chairman Dennis Pence’s compensation will be cut by 15 percent to $212,500 for the remainder of fiscal 2009, the company said in a regulatory filing with the Securities and Exchange Commission.

The misses’ apparel retailer also said its independent directors agreed to a 15 percent cutback in cash compensation, including annual retainers for board and committee membership and committee chairmanship as well as meeting fees.