Coldwater Creek Is Hot, Hot, Hot (CWTR)

Shares of Coldwater Creek CWTR are anything but cold today. Shares are skyrocketing 40% on nearly four times the daily volume, as the clothing retailer beat expectations for this quarter and reaffirmed its guidance. For the quarter ending July 31, Coldwater Creek said it earned $1.5 million, or 2 cents per share. This compares with a loss of $4.9 million, or 4 cents per share, in the year-ago period. Revenue rose to $253.5 million from $225.2 million last year. Analysts had expected Coldwater Creek to report a loss of 4 cents per share on revenue of $233.8 million. Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek was confident about the business going forward. He went on to say, "I am confident in our merchandising and creative direction for fall, which shows further progress to return our offerings and aesthetic to the eclectic and natural fashion sensibility that our customers look to us for. In the second half of 2010, we expect to realize increased merchandise margins due to more conservative inventory plans, which, combined with our continued focus on expense control, position us well to meet our profitability expectations for the fall and holiday seasons." Shares of Coldwater Creek are skyrocketing today, gaining 46% to trade at $4.89.