SANDPOINT, Idaho — Upscale mail order clothier Coldwater Creek expects to save as much as $3 million this year by closing its Sandpoint distribution center.
Coldwater Creek is the largest private employer in Bonner County and announced last week it will eliminate about 150 jobs at the distribution center in Sandpoint.
"It comes not without a degree of sadness for the termination of so many loyal employees," Coldwater Creek Chairman Dennis Pence said during a conference call with analysts Thursday.
However, "there will be a substantial savings on freight costs," Pence said.
Coldwater Creek sells women's apparel and gifts to a largely East Coast and Midwest clientele. By the end of March, all shipping functions will be transferred to the company's distribution center in Parkersburg, W.Va., which is closer to most customers.
The company also plans to cut about 70 employees at 29 retail stores, drop its "Home" catalog and discontinue a Web site devoted to fine jewelry.
The cuts will help the company weather difficult economic times, officials said.
"We see nothing in the near term that leads us to believe the consumer will get back into the spending mode by mid-2002," Pence said.
The company said it plans to keep its corporate headquarters in Sandpoint. It also will keep a large customer service and technical center in nearby Coeur d'Alene.