Coldwater Creek To Explore Strategic Alternatives - Quick Facts

(RTTNews) - Coldwater Creek Inc. (CWTR) announced that its Board of Directors has authorized the evaluation of strategic alternatives to enhance value for stockholders.

The company said the Executive Committee of the Board will lead this process and intends to consider a broad range of alternatives, including, but not limited to, partnerships, joint ventures or a sale or merger of the Company. Perella Weinberg Partners is serving as exclusive independent financial advisor to assist the Board of Directors in the evaluation of possible strategic alternatives.

There can be no assurance that the exploration of strategic alternatives will result in a transaction. The company has not set a timetable for completion of this process and does not intend to disclose further developments with respect to this process unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives.

The Company noted that the negative comparable retail sales trend identified in the second quarter has accelerated. Despite the benefits from its ongoing cost cutting initiatives and real estate optimization activities, the company expects third quarter results to be below its previous guidance.

In addition, and concurrent with the announcement that it will evaluate strategic alternatives, the company stated it would suspend its practice of providing quarterly guidance until such time as its business returns to a more predictable cadence.