UPDATE 1-Cache posts wider-than-expected Q3 loss

* Q3 adj. loss/shr $0.31 vs est. loss/shr $0.11

* Q3 sales $45.5 mln vs est $47.5 mln

Nov 10 (BestGrowthStock) – Women’s apparel retailer Cache Inc
(CACH.O: ) posted a wider-than-expected quarterly loss as its
fall collection failed to resonate with shoppers and said it
will cut down on promotional offers for the key holiday season.

“We were too conservative in our tops and dress
classifications and are adding more fashion to these key
categories, going forward,” Chief Executive Thomas Reinckens
said in a statement.

For the quarter ended Oct. 2, the company, which caters
chiefly to 25-45-year-old women, posted a net loss of $5
million, or 39 cents a share, compared with a loss of $6.8
million, or 53 cents a share, last year.

Excluding items, Cache posted a loss of 31 cents a share,
wider than analysts expectations for a loss of 11 cents a
share, according to Thomson Reuters I/B/E/S.

Net sales rose 1.3 percent to $45.5 million, while
same-store sales remained flat.

Shares of the company, embroiled in a lawsuit with Chico’s
FAS Inc (CHS.N: ), closed at $5.22 on Tuesday on Nasdaq.
(Reporting by Abhishek Takle in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Cache posts wider-than-expected Q3 loss