Financial Reports: Coldwater Creek, J. Crew

Nov 22, 2006 3:23 AM  By

Strong Quarter for Coldwater Creek…
Women’s apparel merchant Coldwater Creek continues to leap from strength to strength. For the third quarter ended Oct. 28, the Sandpoint, ID-based cataloger/retailer posted net income of $15.9 million, up 52% from the $10.5 million it netted for the third quarter of last year.

Third-quarter revenue grew too, by 37%, to $256.4 million. Internet sales rose 29%, to $59.5 million, while catalog sales rose 7%, to $29.4 million. The increase in direct sales came despite a slight decline in the number of catalogs circulated, from 24.3 million for the third quarter of 2005 to 24.0 million.

Retail sales, meanwhile, climbed 48%, to $167.5 million, with same-store sales up 10%.

…And for J. Crew Too
Thanks largely to double-digit sales growth, apparel cataloger/retailer J. Crew Group turned around last year’s third-quarter loss. For the third quarter of 2006, ended Oct. 28, it reported net income of $26.0 million. Last year it had lost $300,000 for the quarter.

The New York-based merchant grew its third-quarter sales 23%, to $275.6 million. Combined catalog and Web sales climbed 18%, to $66.3 million. Store sales increased 26%, to $202.2 million, while same-store sales rose 3%.