SALE AHEAD?: Women’s specialty retailer Coldwater Creek Inc. said its board has approved the evaluation of “strategic alternatives,” which includes, but is not limited to, “partnerships, joint ventures or a sale or merger of the company.”
The company hired Perella Weinberg Partners as its financial adviser.
This story first appeared in the October 15, 2013 issue of WWD. Subscribe Today.
Coldwater cautioned that there is no assurance that a review of options will result in any transaction. It also has not put in place any timetable for completion of the review process.
Coldwater also said that the negative comparable retail sales trend identified in the second quarter has “accelerated” and the chain expects third-quarter results to be below its previous guidance. The company said on Sept. 10 when it reported second-quarter results that it expected an adjusted net loss per share in the range of 55 cents to 75 cents. Shares of Coldwater on Monday closed down 3.1 percent to $1.26 in Nasdaq trading.