Coldwater Creek cuts work force by 8%.(Coldwater Creek Inc.)(Brief Article)(Company Profile)
Home Textiles Today, February, 2001
SANDPOINT, ID -- In response to its recent slowdown in sales, Coldwater Creek has announced that it will reduce its work force by almost 8 percent, as well as implement other cost-cutting measures. "As we reported in our release on Feb. 13, the downturn in consumer spending has caused us to revise our expectations downward for the near term," said Georgia Shonk-Simmons, ceo of the woman's apparel, gift and home merchandise multichannel retailer.
"Following our robust sales performance over the past 12 months, we entered the important January-February spring selling season with the anticipation of continued strong sales activity, and staffed our call centers and distribution centers accordingly. Quite simply, those early spring sales did not happen this...
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