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Shares of Coldwater Creek(CWTR Quote) were among the Nasdaq's losers Friday, sinking 15% after the apparel retailer slashed its fourth-quarter earnings projection.
The company now sees earnings of 16 cents to 17 cents a share, down from its prior guidance of 26 cents to 27 cents a share. Analysts polled by Thomson First Call project earnings of 28 cents a share.
"Although the strength of our first three quarters is still expected to deliver record performance in terms of full-year 2006 net sales and earnings, customer traffic was slower-than-expected across the country throughout the holiday season, which had a substantial negative impact on our fourth-quarter results," the retailer said. Shares were trading at $20, down $3.61. ...
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