More on Cache (CACH): Comparable store sales fell 1.5% due to the higher markdown activity that was needed to clear inventory. Due to the losses piling up at the retailer, management says it will review its businesses and policies. (PR)
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.
Cache (CACH -10.4%) sinks after its Q4 meets expectations on revenue but misses on a per share basis. The company posted weaker-than-expected profit as promotional activity pressured margins. The company also warns on the current quarter, saying that lower sales for special-occasion apparel and some spring merchandise forced it to increase promotional activity, which will likely pressure Q1 margins.
Cache Inc is a mall-based specialty retailer of lifestyle sportswear and dresses targeting style-conscious women. The Company operates 250 women's apparel specialty stores situated in central locations in high-traffic, upscale malls.