Coldwater Creek Inc. reported net income of $8.7 million for the second quarter, a 27.6% drop from net income of $12 million last year.
CEO Dennis Pence attributed this to continued low customer traffic and a “highly promotional environment in the specialty retail segment.”
The cataloger and retailer posted net sales of $253.5 million for the quarter ended Aug. 4, a 17.1% increase over net sales of $216.4 million in the prior year.
The Sandpoint, ID company posted direct marketing sales of $75.8 million for the quarter, a 4.5% increase over $72.6 million last year.
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