By  on May 12, 2014

Strength in Cache Inc.’s dress assortments was insufficient to offset declines in casual and accessories offerings and weak traffic, leading to reductions in net and same-store sales.

In the 13 weeks ended March 29, the New York-based specialty retailer’s net loss hit $10.8 million, or 51 cents a diluted share, above the loss of 42 cents a share expected, on average, by Wall Street analysts. The year-ago loss was $17.8 million, or $1.33, including a $10.1 million charge for an adjustment in tax valuation allowance and $1.5 million in employee separation charges.

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