Key Developments For Coldwater Creek Inc
Coldwater Creek Inc (CWTR.O) (Nasdaq)
Coldwater Creek Inc. Announces Management Change
Coldwater Creek Inc. announced the resignation of Tim Martin, Senior Vice President and Chief Financial Officer, effective November 25, 2009. The Company has appointed John E. Hayes, III, Senior Vice President and General Counsel of Coldwater Creek, to serve as interim Chief Financial Officer, effective November 25, 2009, until a permanent successor is named. The Company has initiated a search for a new Chief Financial Officer.
Dennis Pence Assumes Duties as Coldwater Creek Inc.'s President and Chief Executive Officer
Coldwater Creek Inc. announced that co-founder and Chairman Dennis Pence has assumed the duties of President and Chief Executive Officer, effective immediately, replacing Daniel Griesemer. Mr. Griesemer has resigned from his position as a director, President and Chief Executive Officer.
Coldwater Creek Inc. Reaffirms Q2 2009 Earnings Outlook; Issues Q2 2009 Revenue Outlook Comments On Q2 2009 Same Store Sales Outlook Below Analysts' Estimates
Coldwater Creek Inc. reaffirmed its second quarter of 2009 outlook provided in the Company's first quarter press release on May 27, 2009. It expects net sales in the range of $215-$220 million, reflecting a same-store sales decline in the low double digit range and a direct sales decline in the high teens to low 20's range. and loss per share of $0.05-$0.07, in line with previously issued guidance of a loss less than $0.08 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report loss per share of $0.02 and revenue of $226 million for the second quarter of 2009.
Coldwater Creek Inc. Comments On Q2 2009 Earnings Outlook
Coldwater Creek Inc. announced that it currently expects to report a loss for the second quarter of 2009 and anticipates sequential improvement from first quarter results. The Company reported net loss of $7.6 million, or $0.08 per share in the first quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report net loss of $1.7 million and loss per share of $0.01 for the second quarter of 2009.
Coldwater Creek Inc. Issues Q4 2008 Guidance Below Analysts' Estimates; Comments On Q4 2008 Same Store Sales Guidance; Issues FY 2008 Guidance; EPS Guidance Below Analysts' Estimates
Coldwater Creek Inc. announced that for fourth quarter of 2008, it expects sales of approximately $280 million, reflecting a same-store sales decline of approximately 22%. The Company expects to realize a loss per share for the quarter in the range of $0.23 to $0.25. For fiscal 2008, it currently expects sales of approximately $1.0 billion and a loss per share in the range of $0.31 to $0.33. According to Reuters Estimates, analysts were expecting the Company to report revenues of $298 million and EPS of $(0.13) for fourth quarter of 2008; revenues of $1.0 billion and EPS of $(0.21) for fiscal 2008.
