Coldwater Creek growth targets NY/NJ
October 15, 2001,
Sandpoint, ID — Coldwater Creek, the multi-channel retailer of woman's apparel, jewelry, gift and home furnishings, will grow its current store base of 14 units with the opening of three New York/New Jersey locations within the next month.
A location in Marlton, NJ, will open by the end of this month, the company said. In mid-November, locations will open in the Walt Whitman Mall in Huntington Station, NY, and the Garden State Plaza, Paramus, NJ. The company expects to open 19 stores this fiscal year, for a total of 29 retail stores in time for the holiday season.
As a result of this planned growth, the company recently announced that it has hired Daniel Griesemer as senior vp of retail. Griesemer previously held upper management and executive posts for Gap, Gap Kids and Federated.
The company has said that it chooses areas for expansion based on the location of many of its Internet and catalog customers, as well as the performance of existing stores in and around the region. The average store, ranging from 7,000 square feet to 8,000 square feet, is located in malls or outdoor plazas and includes a waterfall and seating areas for customers.
Though clothing is the focus of the stores, the home area takes up around 25 percent of the store, the company said. However, in larger stores more home items, such as bedding, are included. The company has noted that sales of coordinated loungewear and home merchandise have also done very well.
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