• Q2 net loss up 58% to US$4.9m
  • Sales down 6.7% to US$225.2m
  • Eyes H2 improvement

Specialist women's wear retailer Coldwater Creek recorded a 58% rise in its second quarter net loss to US$4.9m, hurt by a double-digit decline in comparable store sales.

However, the US company said it had seen a "meaningful improvement" to sales trends, following a slight recovery compared to its first quarter figures.

Second quarter sales were down 6.7% to $225.2m, with comparable store sales falling 10.6%. Retail revenues fell 3.2%, but direct sales slumped 19.8%.

For the first half as a whole, sales were down 11.5% to $453.6m, and the company recorded a net loss of $12.5m, compared to a loss of $6.1m last year.

"Our second quarter results, which were in line with our expectations, reflected a meaningful improvement in our sales trends, driven by a combination of better traffic and improved conversion rates as compared to the first quarter, as well as our continued disciplined approach to inventory and expense management," said Daniel Griesemer, Coldwater Creek president and CEO.

He added that the company would make additional investments in marketing and inventory in order to drive traffic sales, after having been encouraged by the early response to its new collections.