US: Cache "disappointed" despite narrowing Q3 loss
- Net loss narrowed to $5.0m from a loss of $6.8m
- Sales rose 1.3% to $45.5m from $44.9m
- Comparable store sales were flat
Women's wear retailer Cache Inc today (10 November) described its third quarter results as "disappointing," even though higher sales helped narrow its losses.
"The strength we saw early in the quarter did not carry through to our fall collections, with certain deliveries not meeting our customers' expectations," noted CEO Thomas Reinckens.
"We believe we are seeing the initial benefits from our initiatives to create more cohesive lifestyle assortments, as evidenced by the strength of our sportswear sales. However, we were too conservative in our tops and dress classifications and are adding more fashion to these key categories going forward."
The company, which operates 281 stores, warned the environment remains challenging going in to the important holiday season."
Help test our new apparel sourcing tool.
Mall-based women's wear retailer Cache has reported sloping sales and a net loss for the fourth quarter, but remained optimistic for the year ahead. ...
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022