Clothing shrinks after first wash

I bought a dress from Poetry last year and after its first wash it has shrunk drastically. I hand washed it in cold water as per the instructions on the label, but the dress has shrunk so much that I can no longer wear it. I am really disappointed as the dress was not cheap and I have hardly worn it. Surely Poetry's clothing should be of a high enough quality that it does not shrink to this extent. It is in fact the first time I ever have clothing shrink after being washed. This is unacceptable that an expensive item shrinks so much after the first wash that it can never be worn again. So basically I paid all that money for a dress I could wear twice. Poetry certainly won't see me in their stores again!