Coldwater Creek swings to loss in Q2, meets Street

Sandpoint, Idaho Coldwater Creek said late Wednesday that the company generated a loss of $4.9 million for the quarter ended Aug. 1, compared with positive earnings of $3.1 million in the year-ago period.

The second-quarter loss matched analyst expectations as lower revenue was partly offset by expense cuts.

Revenue dipped 7% to $225.2 million from $241.4 million last year.

Analysts predicted revenue of $222.1 million.

Looking ahead, Coldwater Creek said it expects third-quarter results will improve over the second quarter. Analysts expect a loss of a penny on revenue of $223 million, on average.

CEO Daniel Griesemer said results "reflected a meaningful improvement in our sales trends driven by a combination of better traffic and improved conversion rates as compared to the first quarter, as well as our continued disciplined approach to inventory and expense management."