29 June 2013 (21:41 UTC-07 Tango 28 June 2013)/20 Sha’ban 1434/08 Tir 1391/22 Wu-Wu (5th month) 4711

The Idaho based women’s clothing retailer, Coldwater Creek, just keeps bleeding out cash!  For its most recent quarter, which ended in May, Coldwater Creek lost $19.4 million USD.

Executives headquartered in Sandpoint blamed it on climate change and the fact that they’ve closed so many stores: “Our first quarter results were impacted by unseasonable weather throughout the quarter….”-Jill Dean, CEO

Coldwater Creek closed two retail stores in the last quarter, along with one factory store.  Company officials don’t expect any good news when this current quarter ends, either.  Amazingly, Coldwater Creek (CWTR) stocks are selling for about $2.50 per share, despite being downgraded to neutral by investment bank B. Riley!

To try and become more efficient, Coldwater Creek just spent money on a Oracle Retail Merchandise Planning and Optimization program: “Ultimately, this should lead to further reductions in aged inventory and allow us to increase our full price selling, making us more productive and profitable.”-Jim Bell, CFO/COO

They say the program will let them better forecast what women want to buy (by spying on customers’ shopping habits).