US: Cache suffers profit plunge from discontinued business
Ladies' wear retailer Cache sales losses in the scrapped Lillie Rubin business drove down third-quarter profit by 38%.
Income was down to US$690,000 in the period compared to $1.1m a year ago.
Revenue increased to $59.9m from $57.3m in the same period last year. Same-store sales, meanwhile, edged up 1%.
Cache expects earnings to be between 47 cents and 49 cents per share in the fourth quarter and between 72 cents and 74 cents in the full year.
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