US: Coldwater Creek narrows Q3 loss
US clothing firm Coldwater Creek has posted a narrowed loss for the third quarter of the year, described as a disappointing quarter by the company's boss.
Net loss for the three-month period was $10.9m, compared with a net loss of $34.0m for the three-month period ended 31 October.
Net sales were $232.4m, compared with $266.7m in the fiscal 2009 third quarter.
"Our third quarter operating results were in line with the revised outlook we provided in mid October. This was a disappointing quarter for us as our fall merchandise assortment was not well received by our customers," said Dennis Pence, chairman and chief executive officer of Coldwater Creek. "On a positive note, we continued to tightly manage expenses with SG&A for the quarter down approximately $23m from the third fiscal quarter last year."
Click here to view the company's full third quarter report.
Apparel company Coldwater Creek saw its fourth quarter loss soar after a near-21% slump in sales, leading to a full-year loss for the business of $44.1m....
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