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Cache Inc.’s third quarter loss widened, but comparable store sales rose 6 percent in the period.
For the quarter ended Sept. 28, the net loss was $8 million, or 38 cents a diluted share, from a loss of $6.4 million, or 49 cents, a year ago. The adjusted loss, excluding some items such as employee severance costs, was $7.4 million, or 35 cents, versus an adjusted loss of $4.9 million, or 38 cents, a year ago. Net sales rose 3.1 percent to $47.2 million from $45.8 million, while comps were up 6 percent.
Jay Margolis, chairman and chief executive officer, said, “During the quarter, we saw a favorable consumer response to our initial efforts to differentiate Cache from peers with unique event dresses, tops, sportswear and accessories.”
He said the company’s merchandise assortment will capitalize on the upcoming gift giving season.