Coldwater Creek announced that Dennis Pence, its co-founder, chairman of the board and CEO, will retire as CEO effective Dec. 31. Commensurate with this announcement, Coldwater Creek's board of directors appointed the company's president and chief merchandising officer, Jill Brown Dean, as president and CEO, effective Jan. 1, 2013.
Sandpoint, Idaho -- Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016. “We are pleased to announce this strategic investment and partnership with Golden Gate Capital, which is a strong endorsement of our brand and turnaround strategy, and provides us with further financial flexibility to complete our near term business objectives and accelerate our growth plans,” said Dennis Pence, chairman and CEO
/PRNewswire/ -- Coldwater Creek Inc. First Quarter 2011 Operating Results "Our first quarter results were in line with our revised expectations provided on May 17," stated Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek.
) Coldwater Creek posted a profit in its second quarter on a rise in revenue, beating the Street's expectations for another loss. The company on Wednesday reaffirmed its guidance for the year and said its margins will improve as it benefits from inventory control. For the three months that ended July 31, Coldwater Creek said its net income was $1.5 million, compared with a loss of $4.9 million in the year-ago period. Revenue rose 12.6% to $253.5 million, from $225.2 million last year. The company opened five new retail stores in the quarter to finish with 364 locations. It