Coldwater Creek had sales in 2001 of $464 million, up from $458.4 million in 2000. The cataloger and retailer’s net income fell from $13.2 million to $1.8 million during the same period. The year ended. March 2.
Georgia Shonk-Simmons, Coldwater Creek’s CEO, attributed the decrease in margin to “lower-than-expected full-price sales.”
Direct sales dropped from $424.3 million to $400.8 million during the year.
In fiscal 2001 Sandpoint, ID-based Coldwater Creek cut its catalog circulation from 183.6 million to 161 million as part of a series of cost-cutting measures.
Internet sales, which are considered part of Coldwater Creek’s direct sales, amounted to $144.2 million, up from $112.9 million in 2000. They represented 37.9% of the company’s direct sales, compared to 32.5% in 2000. The company has been promoting its affiliate link program since its inception in April 2001, and estimates that one third of the buyers coming in from affiliate links are new to its customer file.
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