Coldwater Creek Inc reported financial results for the three and nine month periods ended October 28, 2006.
Net income for the three-month period ended October 28, 2006, increased $5.4 million, or 51.8 percent, to $15.9 million, or $0.17 per diluted share. This compares with net income of $10.5 million, or $0.11 per diluted share, for the three-month period ended October 29, 2005.
Net sales in the fiscal 2006 third quarter increased 37.2 percent to $256.4 million from $186.8 million in the fiscal 2005 third quarter.
Net income for the nine-month period ended October 28, 2006, increased $14.3 million, or 56.9 percent, to $39.5 million, or $0.42 per diluted share, compared with net income of $25.2 million, or $0.27 per diluted share, for the nine-month period ended October 29, 2005.
Net sales in the first nine months of fiscal 2006 increased 38.8 percent to $688.1 million from $495.7 million in the same period a year ago.
Comparable store sales increased 9.9 percent for the three-month period ended October 28, 2006, compared with a 6.8 percent increase in the prior-year period.
"Our triple-channel business strategy once again delivered a positive performance for the recent quarter, resulting in net income growth of more than 51 percent, net sales growth of more than 37 percent and a solid increase in same-store sales," said Dennis Pence, Chairman and Chief Executive Officer for Coldwater Creek.
At the same time,we had increases of approximately 80 and 70 basis-points in gross margin and operating margin, respectively, compared with the same period last year.
marketing@alchempro.com
