Cache (CACH -20%) takes a hit after saying it's taking a larger Q3 loss than it had previously...

|By:, SA News Editor

Cache (CACH -20%) takes a hit after saying it's taking a larger Q3 loss than it had previously expected, as its results were hurt by increased promotions and lackluster sales for its early fall offerings. The lifestyle sportswear retailer now expects Q3 sales of about $45.8M, below the Street consensus of $49.2M. Separately, the company also says it's launched a search for a new president and merchandising chief.