Piper Jaffray Reiterates Neutral on Coldwater Creek (CWTR)

Piper Jaffray is out with its report today on Coldwater Creek CWTR, reiterating Neutral.

In a note to clients, Piper Jaffray writes, "We are reiterating our Neutral rating on CWTR shares following the company's FQ4 report in which sales fell short of our forecast. Same-store sales were down 20.5% in FQ4, and it appears that weakness has continued into FQ1. Management attributes the worse than expected top-line performance to material fashion misses, and sees potential opportunity to regain traction beginning with its summer deliveries, which begin to reflect the work of new design talent."

Piper Jaffray has a $3 PT on CWTR.

At the time of posting, shares of CWTR were trading pre-market at $2.45, down 15.81% from Wednesday's close.