Despite a slight dip in sales, Coldwater Creek (Nasdaq: CWTR) managed to double its first-quarter net income. For the three months ended June 1, the apparel cataloger/retailer reported net income of $2.8 million on net sales of $112.0 million. For the previous first quarter, the Sandpoint, ID-based company netted $1.4 million on $112.9 million in sales.
Sales within the direct division, which includes outlet stores as well as the catalogs and the Internet, fell nearly 15%, to $88.5 million from $103.7 million a year ago, due primarily to decreased circulation. But Internet sales rose 11%, to $38.5 million from $34.7 million. Sales from retail stores more than doubled, to $23.5 million from $9.1 million.