Coldwater Creek soars 16% on lifted Q2, full-year outlook
Women’s apparel retailer Coldwater Creek Inc. (Nasdaq:CWTR) is up more than 16% today after announcing after the close Monday it was lifting its second-quarter and full-year outlooks. For the 2008 fiscal second quarter, Coldwater raised its sales guidance to a range of $235 million to $240 million, up from previous estimates of $215 million to $239 million. Earnings per share are expected to be between break even and $0.02, compared with prior estimates of a net loss of $0.09 to $0.03 a share.
For the full year, the Sandpoint, Idaho-based company said it expects sales of $1,105 million to $1,151 million, up from previous estimates of $1,085 million to $1,150 million.
“We continue to focus on the aspects of the business within our control and remain committed to returning the company to sustainable and profitable growth and ensuring that our product and experience exceeds the Coldwater Creek customer's expectations,” said Daniel Griesemer, president and CEO, in a statement.
In today's trading, shares of Coldwater are at $5.74, up $0.80 from Monday's close.
For detailed price information and recent news stories about Coldwater Creek Inc., click CWTR.
