fashion-scoops
fashion-scoops

Sale Ahead for Coldwater Creek?

The women's specialty retailer said its board has approved the evaluation of “strategic alternatives.”

SALE AHEAD?: Women’s specialty retailer Coldwater Creek Inc. said its board has approved the evaluation of “strategic alternatives,” which includes, but is not limited to, “partnerships, joint ventures or a sale or merger of the company.”

The company hired Perella Weinberg Partners as its financial adviser.

Coldwater cautioned that there is no assurance that a review of options will result in any transaction. It also has not put in place any timetable for completion of the review process.

Coldwater also said that the negative comparable retail sales trend identified in the second quarter has “accelerated” and the chain expects third-quarter results to be below its previous guidance. The company said on Sept. 10 when it reported second-quarter results that it expected an adjusted net loss per share in the range of 55 cents to 75 cents. Shares of Coldwater on Monday closed down 3.1 percent to $1.26 in Nasdaq trading.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false