Seeking Alpha

Coldwater Creek plunges on weak comps, guidance

  • Coldwater Creek (CWTR) looks set for a rough session, falling 17.88% premarket on the heels of a Q2 miss.
  • Premium retail comps growth was -7.3% for the period and consolidated net sales (premium retail and direct) fell 8.5% Y/Y.
  • "Sales were lower than planned in the second quarter, largely due to a deceleration in traffic during the month of July," CEO Jill Dean says, adding that the company's "return to more consistent comparable store sales has been slower than expected."
  • Q3 outlook: Comps "down high-single digits," gross margin "flat to slightly down," net loss of $0.55-0.75/share against consensus of -$0.37. (PR)
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