Caché Inc. swung to a loss in the third quarter as consumers tightened spending on discretionary items. For the quarter ended Sept. 27, the New Yorkbased 295-unit specialty chain had a net loss of $1.6 million, or 12 cents a diluted share, compared with net income of $161,000, or 1 cent a share, for the same period last year. The loss in the 2008 quarter included store closing costs of 2 cents a share. Net sales fell 4 percent to $58.1 million, from $60.6 million in the 2007 period, and same-store sales declined 4 percent. The revenue results were in line with analysts’ expectations and the loss slightly smaller than the 13-cent consensus provided by Yahoo Finance. Gross margin declined to 44.1 percent of sales from 45.7 percent in the year-ago period, and average inventory per store was down 16 percent, the company said. “As we anticipated, our third-quarter results were negatively affected by the challenging economy, which heightened in severity in September,” said Thomas Reinckens, chairman and chief executive officer. Piper Jaffray retail analyst Neely Tamminga said in this tough environment, she was “encouraged” that Caché is “focused on lower-price-point items,” which could “help to stabilize same-store sales.” For the nine months, the retailer registered a loss of $1.6 million, or 12 cents a diluted share, compared with net income of $1.6 million, or 10 cents a share, in the year-ago period. The year-to-date figure includes store closing costs of 13 cents a share and expenses of 3 cents relating to a management change. Brian Woolf resigned as ceo in January and was named president of Charming Shoppes Inc.’s Lane Bryant division in July. Net sales grew 2 percent to $199.8 million from $196 million. Same-store sales increased 1 percent.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)