A steep decline in Internet sales in the fourth quarter wasn’t enough to offset the boom in its web sales for the balance of the year, Coldwater Creek reported today. Web sales accounted for 31% of Coldwater Creek’s sales last year vs. 24.6% the year before.
Internet sales in the fiscal year 2001 fourth quarter decreased 14.5% to $35.3 million from $41.3 million in the fiscal 2000 fourth quarter, Coldwater Creek, a multi-channel retailer of women’s apparel and accessories, said. For the full year, web sales were up 27.7% to $144.2 million from $112.9 million. Excluding the 53rd week in 2000, which accounted for $2.1 million in web sales, web sales were up 30.1% over the year earlier.
Companywide sales increased 1.2% for the year to $464 million from $458.4 million. Excluding the 53rd week, sales were up 3%.
Coldwater Creek says the increases in web sales’ proportion of sales were due to customer growth associated with its new web affiliate program. Since the program's inception in April, one-third of the buyers originating from affiliate links were new to the company.
Coldwater Creek operates 31 stores in addition to its web site and catalog.
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