Coldwater Creek, buoyed by strong April sales, reported an 8.4% revenue jump during the first quarter.
The Sandpoint, ID-based company generated $115.1 million, compared with $106.2 million for the same period last year.
Net income rose by $400,000 to $1.9 million.
CEO Dennis Pence said in a statement that the results were due to “favorable customer response across all channels in April, and solid retail store performance throughout the quarter. In addition, merchandise margins at the store level improved significantly, and the new stores we opened near the end of the period performed above plan.”
The firm’s direct marketing revenue fell by $100,000 to $81.9 million. Catalog sales increased by .2% to $46 million, and e-commerce sales fell by .5% to $46 million.
Meanwhile, retail sales rose by 37.3% to $33.3 million compared with the first quarter of 2002.
The company started classifying some phone and Internet revenue under the retail category during the quarter, and has reclassified all prior period financial statements for consistency.
Pence noted that “color and novelty continued be the big merchandising story for the season, with strong response to both solids and prints. We also had continued growth in our sportswear, crop pant and denim business during the quarter.”
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