Coldwater Creek moves to profit in Q1
Sandpoint, Idaho Coldwater Creek reported Wednesday that it earned more in its first quarter than analysts expected, reversing a year-ago loss, as sales rose in all its divisions.
For the three months that ended May 1, Coldwater Creek said its net income was $2.3 million, compared with a loss of $7.6 million a year earlier. Revenue rose 6% to $243.1 million.
Revenue in Coldwater’s retail segment, which includes its stores, spas and outlets, was $176 million, up 3% from a year earlier. Phone and Internet sales jumped 16% to $67.1 million.
Macy’s celebrates Pride month
NEW YORK Macy’s announced that it has celebrating Pride month with a multitude of in-store fashion events, advertising support, special tribute windows in select stores, gift registry booths for same-sex couples in key cities, as well as sponsorship and employee participation in Pride parades across the country.
“We are proud to support our LGBTQ employees and consumers through initiatives that recognize and honor our commitment to diversity and inclusion,” said Corliss Fong, Macy’s vice president of diversity strategies. “Macy’s remains a steadfast supporter of inclusiveness in all aspects of our business and we join in celebration with millions across the nation who live with pride and joy this June.”
GameStop announces exec promotions
GRAPEVINE, Texas GameStop has announced the promotion of existing executives into new positions within the company.
The promotions include: Daniel DeMatteo, executive chairman, from CEO; J. Paul Raines, CEO, from COO; Tony Bartel, president, from EVP merchandising and marketing; and Robert Lloyd, EVP and CFO, from SVP and acting interim CFO.
“I am pleased to congratulate the team along with our board on the execution of this succession plan that has been two years in the making,” indicated Dan DeMatteo. “Paul, Tony, Rob and Mike are filling key positions that will allow GameStop to continue its growth both here and internationally. This includes expansion into new markets and continued focus on strategic initiatives such as our new loyalty program, downloadable content (DLC) marketing and sales, and the evolution of GameStop.com into a robust digital platform.”