WWD.com/business-news/financial/caches-q3-loss-widens-7273085/
government-trade
government-trade

Cache’s Q3 Loss Widens

Comps rose 6 percent in the quarter.

Caché's concept store at the Fashion Show Mall in Las Vegas.

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.”

 

RELATED CONTENT: WWD Earnings Tracker >>

 

He said the company’s merchandise assortment will capitalize on the upcoming gift giving season.