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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)