Direct Sales Boost Coldwater Creek’s First Quarter Fortunes
Women’s apparel marketer Coldwater Creek generated $12 million in income during first-quarter 2007, up from $11.6 million in first-quarter 2006. During the same period, the company’s revenue rose from $215.3 million to $281.3 million. The quarter ended May 5.
While retail sales rose at a faster rate than direct revenue, retail’s figures were boosted by 12 new premium retail stores. During the quarter, retail sales were $184.9 million, up from $128.6 million a year ago. Retail made up 65.7% of the company’s revenue, up from 59.7% in first-quarter 2006.
The direct segment’s net sales rose from $86.7 million a year ago to $96.4 million. Direct sales accounted for 34.3% of the company’s revenue, down from 40.3%.
Within the direct segment, Internet sales rose 18.5%, to $65.8 million, from $55.5 million. Catalog sales slipped from $31.1 million to $30.6 million.
