Financial Reports: Coldwater Creek, J. Crew

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%.

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