Coldwater Creek Inc. (Sandpoint, Idaho) has reported a 77.8 percent increase in net income for its fourth quarter ended Jan. 29, 2005.
Net sales increased 20.9 percent in the quarter.
For the fiscal year ended January 29, net income increased 137.2 percent and net sales increased 13.8 percent.
Net sales from the retail segment, which includes the company’s roughly 125 full-line retail stores, resort stores and outlet stores, increased 48.1 percent in the quarter, representing 48.2 percent of the company’s total quarterly net sales; and increased 52.2 percent for the year, representing 50.2 percent of the company’s total net sales in fiscal 2004.
“Fiscal 2004 was a period in which we successfully opened 48 full-line retail stores and demonstrated the company’s ability to execute our retail expansion strategy,” said chairman and ceo Dennis Pence. “At the same time, we grew earnings by more than 137 percent, increased net sales and more than doubled our operating margin compared with the prior fiscal year, while continuing to develop the infrastructure needed to further position the company as one of the premier specialty apparel retailers.”