Coldwater Creek H1 net income soars 60.5%, ups FY outlook
24 Aug '06
4 min read
"Although the majority of our growth continues to come from retail stores -- which currently represent approximately two-thirds of our total business -- Internet and catalogs also delivered higher second-quarter sales compared to a year ago," he added.
Gross profit for the fiscal 2006 second quarter was $101.3 million, or 46.8 percent of net sales, compared with $66.4 million, or 43.3 percent of net sales, for the fiscal 2005 second quarter. The increase in gross profit rate was primarily due to improved merchandise margins on sales in both the retail and direct segments.
Income from operations for the fiscal 2006 second quarter increased $8.7 million, or 93.3 percent, to $18.1 million, or 8.4 percent of net sales, compared with $9.4 million, or 6.1 percent of net sales, for the fiscal 2005 second quarter.
Net sales from the retail segment, which includes the company's premium retail stores and resort and outlet stores, increased 52.3 percent to $143.8 million in the fiscal 2006 second quarter, from $94.5 million in the fiscal 2005 second quarter. Retail segment net sales represented 66.5 percent of the company's total net sales in the fiscal 2006 second quarter, compared with 61.6 percent in the fiscal 2005 second quarter.
Net sales from the retail segment increased 52.8 percent to $272.4 million in the first six months of fiscal 2006, from $178.2 million in the comparable period last year. Retail segment net sales represented 63.1 percent of the company's total net sales in the first six months of fiscal 2006, compared with 57.7 percent in the same period a year ago.
marketing@alchempro.com
