Cache Inc.’s third-quarter net loss deepened as the women’s apparel retailer saw slumping demand on top of a higher tax-related cost for the period.
For the quarter ended Sept. 29, Caché posted a net loss of $6.4 million, or 49 cents a diluted share, compared with a year-ago loss of $1.8 million, or 14 cents. According to the retailer, the most recent quarter included a 10-cent charge for an increase in the tax valuation allowance. In October, Caché forecasted a net loss of between 39 cents and 41 cents.
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)