• Q3 loss widens to $12.5m from $9.5m
  • Sales 2.3% to $46.1m
  • Gross margin slips to 27.1%

US women's wear retailer Caché has seen its third-quarter loss widen as net sales continued to fall.

The company's net loss amounted to US$12.5m for the 13 weeks to 27 September, compared to $9.5m in the same period of the prior year.

Net sales fell 2.3% to $46.1m from $47.2m last year, but comparable store sales climbed 0.2%. Gross margin slipped to 27.1% from 30.4% a year ago. Caché operated 14 fewer stores this year compared to last year.

"We achieved positive same store sales comps in our brick-and-mortar channel during the third quarter of 2014, which is noteworthy as we were up against positive comps on a year-over-year basis," said chairman and CEO Jay Margolis.

He added that the company has worked through issues related to the relaunch of its new website, and it's e-commerce business has returned to positive comparable store sales.

Year-to-date net loss widened to $31.2m from a loss of $28.9m the year before, while sales fell 8.2% to $147.6m from $160.8m last year.