CWTR my lord. Good thing i finally sold CWTR for a loss yesterday.
4:21PM Coldwater Creek issues downside Q3 and Q4 guidance (CWTR) 10.87 +0.26 : Co issues downside guidance for Q3 (Oct), sees EPS of ($0.11)-($0.13) vs. $0.13 Reuters Estimates consensus; sees Q3 (Oct) revs of $260-265 mln vs. $301.74 mln consensus. Co issues downside guidance for Q4 (Jan), sees Q4 (Jan) revs of $360-365 mln vs. $425.31 mln consensus. The co expects third and fourth quarter inventory levels to decrease on a per-square-foot basis versus the prior year levels. Co also says in addition to an increasingly promotional environment, the co has experienced declining traffic throughout the third quarter. At the same time, the co continues to experience increased conversion rates on a year-over- year basis. "We are clearly disappointed in the current business trends, including continued lower customer traffic and a highly promotional environment, the combination of which is likely to result in negative net income and earnings per share performance in the third quarter." Co also announces $75 mln buyback.
