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New Soaking for Coldwater

Shares plunge for the second time in three weeks.
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Coldwater Creek (CWTR) got soaked again Thursday after the retailer offered soft guidance for its new fiscal year.

The Sandpoint, Idaho, company said it expects to make 7 cents to 9 cents a share for the first quarter ending in April, shy of the 14-cent Thomson Financial target.

The company expects to make 55 cents to 63 cents a share for the year on sales of $1.24 billion to $1.27 billion. Analysts were looking for an 80-cent profit on sales of $1.28 billion.

The news comes just three weeks after Coldwater

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took a 16% plunge following a fourth-quarter earnings warning. At the time, the company blamed soft sales of its moleskin pants.

Shares fell $1.96 late Thursday to $17.08.