Cache narrows loss in Q3
New York City -- Women’s apparel retailer Cache reported Wednesday that it narrowed its loss for the quarter ended Oct.2 to $5 million, compared with a loss of $6.8 million in the year-ago quarter.
Revenue rose 1.3% to $45.5 million, from $44.9 million in the third quarter of fiscal 2009. Same-store sales were flat, as compared with a decrease of 21.7% in the prior year.
Thomas Reinckens, chairman and CEO, said: “As we begin the important holiday season, we recognize that the environment remains challenging and as such we will continue to focus on our key merchandising initiatives while reducing promotional offers as compared to last year and diligently managing expenses and inventory.”
Cache currently operates 281 stores in 43 states, the Virgin Islands and Puerto Rico.