NEW YORK (
is surging in morning trading after the women's apparel retailer reported a surprise profit in its second quarter.
Shares are soaring 22.4% to $4.10, as Coldwater Creek recorded a profit of $1.5 million, or 2 cents per share, compared with a loss of $4.9 million, or 4 cents, in the year-ago period.
Revenue rose nearly 13% to $253.5 million from $225.2 million.
Coldwater Creek reaffirmed its full-year outlook in the range of 8 cents to 12 cents per share, better than analysts' outlook of 6 cents. For the third quarter management anticipates a profit between a penny and 4 cents a share, with a low single digit increase in sales.
Coldwater Creek also said its margins will continue to improve due to inventory control
-- Written by Jeanine Poggi in New York.
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