Coldwater Creek Falls on EPS Miss

Shares of Coldwater Creek CWTR are falling in the after-hours trade following the release of its Q1 earnings results. Currently, shares are off by 3.28%, trading at $1.77; they closed the regular session lower by 2.66%, at $1.83. Coldwater Creek reported Q1 EPS of ($0.32) on revenues of $179.8 million; the Street was looking for a loss of $0.29 per share on revenues of $180 million. Q1 comparable premium store sales were down 27.5%. Dennis Pence, Chairman and Chief Executive Officer stated, "During the first quarter, we experienced continued weak trends in traffic and sales as our merchandise offerings were not well received by our customers. We are in the process of repositioning our brand and view 2011 as a transitional year for Coldwater Creek. We look forward to seeing the results of our new design, development and merchandising initiatives as we move through the year.” Coldwater Creek Inc. is a national specialty retailer of women's apparel, accessories, jewelry and gift items sold under the Coldwater Creek brand. It serves its customers through its retail and direct segments. Coldwater's retail segment includes retail stores and outlet stores along with its day spa locations, while the direct segment consists of its direct-to-consumer business through e-commerce, and phone and mail operations.