Cache Q3 Loss Widens, But Sales Up - Quick Facts

(RTTNews) - Cache Inc. (CACH), a specialty chain of women's apparel stores, reported that its third-quarter net loss widened to $8.0 million from $6.4 million in the prior year period. But, loss per share narrowed to $0.38 from $0.49 last year.

Adjusted net loss totaled $7.4 million, or $0.35 per share, compared to adjusted net loss of $4.9 million or $0.38 per share in the third quarter of fiscal 2012. Analysts polled by Thomson Reuters expected the company to report a loss of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.

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. This positive performance was partially offset by our actions to clear product that was not consistent with our go-forward strategy. We also continued to significantly reduce promotional activity in our e-commerce channel to enhance our profitability and importantly create brand integrity as we present a clear pricing message to our customers."

Net sales increased 3.1% to $47.2 million from $45.8 million in the third quarter of fiscal 2012. Comparable store sales increased 6.0%, as compared to a decrease of 2.9% in the third quarter of fiscal 2012.