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CORRECTED - CORRECTED-UPDATE 1-Coldwater Q4 loss wider than expected, FY vie
March 3, 2010 / 9:25 PM / 8 years ago

CORRECTED - CORRECTED-UPDATE 1-Coldwater Q4 loss wider than expected, FY vie

(Corrects to say analysts were looking at flat earnings in 2010, not a loss of 27 cents. Also corrects to say Q4 loss of 10 cents is comparable to est loss of 9 cents)

* Q4 loss $0.10 vs est loss $0.09

* Q4 sales $318.4 mln vs est $312.0 mln

* Sees FY10 $0.08 to $0.12 vs est of breakeven

March 3 (Reuters) - Women’s apparel retailer Coldwater Creek Inc CWTR.O posted a smaller quarterly loss that still missed estimates, but said it expects to improve merchandise margins this year, as the company looks to revamp its offerings and adjust price points.

The Sandpoint, Idaho-based company has lagged behind rivals Chico’s FAS Inc (CHS.N) and Anntaylor Stores Corp ANN.N in the fight against falling sales and weak consumer spending, but forecast full year earnings above estimates.

Coldwater has been trying to turn around its business that has been hurt not only by lower consumer spending, but also lacklustre fashions, and has been trying to lure customers with aggressive discounting.

For the fourth quarter, the company, which caters to mature women, posted a loss of $10 million, or 11 cents a share, compared with a loss of $18.6 million, or 20 cents a share, last year.

Excluding certain non cash charges, the company posted a loss of 10 cents a share, while analysts were looking at a loss of 9 cents a share, according to Thomsom Reuters I/B/E/S.

Revenue came in at $318.4 million, a rise of 12 percent.

Shares of the company closed at $5.41 Wednesday on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Ratul Ray Chaudhuri)

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