Coldwater Creek Inc., Sandpoint, Idaho, has reported Internet sales in the fiscal second quarter ended Aug. 26, increased 717.4% to $18.8 million, compared to $2.3 million in the previous year’s quarter.
This represented 24.1% of total company business for second quarter, up from 15.2% in the first quarter of this fiscal year, and 12.8% in the fourth quarter of 1999. Internet sales for the first six months of fiscal 2000 totaled $32 million
Dennis Pence the company’s CEO said in a statement that the Internet is now more profitable than the core catalog business on a pro forma basis. Pence said that while the company’s best customers are now multi-channel buyers, online customers come back to buy 17% more often that its catalog customers.
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