Web sales at Coldwater Creek increase 36% while overall sales grow by 7.6%

Internet sales for the second quarter of Sandpoint, ID-based Coldwater Creek Inc. increased 36% to $28.7 million from $21.1 million in the fiscal 2000 second quarter, Coldwater Creek reported today. Web sales accounted for 30.9% of the company`s total net sales in the second quarter, compared with 24.4% in last year’s second quarter.

Coldwater Creek has experienced a decline in catalog sales. For the second quarter this year, the catalog generated revenue of $52.4 million, down from last year’s second quarter figure of $59.1 million.

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Total sales in the second quarter increased 7.6% to $92.8 million from $86.3 million in the fiscal 2000 second quarter. Net income was $1.3 million compared with $1.8 million for the fiscal 2000 second quarter.

Net sales for the fiscal 2001 first half increased 12.5% to $205.7 million from $182.8 million in the fiscal 2000 first half. Net income was $2.7 million compared with $5.4 million for the first half of 2000.

"The implementation of our `wear now` strategy shifted more of our full-price fall business into the third quarter by offering our apparel closer to the season in which it is intended to be worn," said Georgia Shonk-Simmons, president and chief executive officer. "We are pleased with the results and will continue this strategy."

Net sales from Coldwater Creeks’ retail stores increased 91.8% to $11.7 million in the second quarter. Coldwater Creek operates 14 full-line stores.