• November 4, 2008

Add Coldwater Creek to the list of specialty retailers getting crushed by reluctant shoppers: The Sandpoint, Idaho-based company withdrew its financial forecasts, warning investors that with same-store sales falling "in the low twenties," it expects to post a third-quarter loss on sales of $225 million.

"Following the recent economic events, we experienced a significant deterioration in our traffic and sales beginning the second weekend in October, and as a result we are lowering our guidance expectations for the third quarter," the company says in its release. "Given the unprecedented consumer environment and the difficulty in forecasting future trends, we are also withdrawing our sales and earnings guidance for the fourth quarter."

The company, which had planned to open 40 new stores in the next year, will now open just 15.--Sarah Mahoney