Coldwater Creek Inc., Sandpoint, ID, had second-quarter sales of $92.8 million, up 7.6% from $86.3 million in second-quarter 2000. But the company’s net income fell from $.18 million to $1.3 million in the year-over-year period. The quarter ended Sept. 1.
“The implementation of our ‘wear now’ strategy shifted more of our full-price fall business into the third quarter by offering our apparel closer to the season in which it is intended to be worn,” Georgia Shonk-Simmons, Coldwater Creek’s president and chief executive officer, said in a statement.
Net sales from the direct channel, which encompasses the company’s catalog and Internet business, increased 1.1% to $81.1 million from $80.2 million. Net sales from the retail channel increased 91.8%, to $11.7 million, from $6.1 million a year ago.
When broken out, Internet sales rose 36% to $28.7 million from $21.1 million. This represented 30.9% of the company’s total net sales in the quarter, compared with 24.4% a year ago.
