Coldwater Creek expands operation - Chief plans to staff more than 500 in the next few years

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September 7, 2004

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Stop the rumor mill.

Let every grocery clerk in town know.

Coldwater Creek is not pulling up stakes. In fact, just the opposite is true, according to CWC founder and Chief Executive Officer Dennis Pence.

By DAVID KEYES Hagadone News Network

http://www.cdapress.com/articles/200 ... s/bus01.txt

The Kootenai campus is booming, with 60,000 square feet of office space now under construction where the company's distribution center was once housed. Upon completion, the total office space on campus will be 177,000 square feet.

Work is also beginning on an 8,000-square-foot training facility.

CWC plans to add 60 new jobs this year, bringing the total to 385 Bonner County employees -- the most ever.

Pence plans to have more than 500 employees here within the next few years and CWC is adding 180 additional parking spots to make room for the growth.

Still, the rumor persists.

"There's a lurking suspicion we are going to close the center and move," said Pence, in an interview in his office Monday. "It's not going to happen."

Employees have heard the rumors while waiting in line at grocery stores. It's a topic at neighborhood Bunco games. Each time the company makes a move -- whether it is moving the distribution center to West Virginia or adding a store -- Coldwater Creek's future here is discussion fodder.

Pence was wearing jeans and a North Face short-sleeve with the collar button loose, during the interview. His eyes lit up and his voice was punctuated with pride as he spoke about his company's success and commitment to Bonner County.

Coldwater Creek was founded in 1984 by Dennis and Ann Pence. The couple pieced together a catalog that contained 18 items and mailed the catalog out from their small, Sandpoint apartment.

Their credit cards exhausted, in hock up to their necks, the Pences jumped in to the world of cataloging.

Their fortunes have changed dramatically.

The company will have 115 retail stores by Thanksgiving. A new store opens about every other week. Next store opening? Bethesda, Md., next Thursday.

CWC sends out two million e-mails, 100 times a year to customers all over the world.

Its value and stock price are at an all-time high.

CWC's payroll in Bonner County is more than $21 million. The company represents approximately 4 percent of private-sector employment in the county and 9 percent of the private-sector payroll.

The corporate's beautiful headquarters, which would rival any national company, is now a nerve center for a national retail brand serving customers from coast to coast, as well as hosting very active Internet and catalog divisions.

The initial catalog that offered 18 items? The company now has 3,000 available.

Coldwater Creek has also attracted national talent as the company's reputation grows. Some of the employees have come from Gap, Inc., The Limited, Nordstrom, Chico's, Talbots, Finish Line, Ross Stores, Tuesday Morning Corp., and more on the way.

"Our hometown is here," Pence said.

The company's support of education, the arts and community is unflagging. (See sidebar for this year's donations.)

"He (Dennis) has come to the rescue of the Festival At Sandpoint numerous times," said FAS Executive Director Dyno Wahl. When the Festival was in the red four years ago, Pence matched local donations dollar for dollar.

Coldwater Creek is one of the largest corporate contributors to the Festival and started a scholarship program to recognize an outstanding local music student.

CWC has given almost $300,000 to the FAS since 1996.

A recent visit to the Sandpoint Senior Center by Pence resulted in a $20,000 donation.

Coldwater Creek employees and spouses have held seats on the school board and many local organizations,

"We encourage everyone to be involved," Pence said. "I know that we are."

Once the company's recruits realize that North Idaho isn't the end of the earth, Pence says the quality of life seals the deal.

Competitive salaries, raising children in a natural playground and a 10-minute commute to work often softens the cultural changes many new employees face.

"I am pleased we can build a great national brand here," he said. "The truth is we could be located anywhere. That is precisely why we are here."

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