The company now foresees a loss between 14 cents and 19 cents a share, from prior guidance of a profit between 1 cents and 4 cents. Coldwater is also predicting about a 20% plunge in same-store sales during the quarter.
Shares of Coldwater Creek are tumbling 32.1% to $3.64, and bringing down other women's apparel retailers. Chico's (CHS - Get Report) is falling 3.8% to $10.32 and Talbots (TLB) is dropping 5.5% to $10.28.Supervalu (SVU - Get Report) is losing 14.4% to $10.59, after the grocer cut its full-year outlook and swung to a loss in its second quarter. The company now predicts 2010 earnings in the range of $1.40 to $1.60 a share, from previous forecast of $1.75 to $1.95. Supervalu also reported a second-quarter loss of $1.47 billion, or $6.94 a share, compared to a profit of $74 million, or 35 cents, in the same period last year. Excluding a charge, the company actually earned 28 cents a share, a penny below Wall Street's estimates. Teen retailers Zumiez (ZUMZ - Get Report) and Abercrombie & Fitch are on a downswing following downgrades. Zumiez was cut from buy to neutral by MKM Partners, while Abercrombie & Fitch was lowered to sell from hold by Brean Murray. Shares of Zumiez are off 4.8% to $24.85 in morning trading and Abercrombie is slipping 3.7% to $43.92.