Coldwater Creek sells off after Q3 warning, strategic review announcement

|About: Coldwater Creek, Inc. (CWTR)|By:, SA News Editor

Coldwater Creek (CWTR -28%) shares sell off sharply after the struggling retailer announced that it would conduct a strategic review following continued weak performance.

Management expects Q3 results to come in below prior guidance due to weakening comparable store sales and despite cost-cutting efforts. (8-K)

The company, with a depressed market capitalization of ~$28M, no longer sees the need to be public, The Street reports, and P-E firms have expressed interest in the distressed retailer. The holiday season will be pivotal to any turnaround effort, according to a source.