Coldwater Creek Posts Surprise Profit

Coldwater Creek is on an upswing after it surprises investors by swinging to a profit in its second quarter.
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NEW YORK (

TheStreet

) --

Coldwater Creek

(CWTR)

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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