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Cache loss widens in Q1
New York -- Cache reported Tuesday a loss of $18.5 million for the first quarter, widened from a loss of $1.2 million in the same quarter last year. An income tax provision of $10.2 million and employee separation costs were cited as reasons for the worsened performance.
Revenue declined 5% percent to $53.5 million from $56 million, and same-store sales dipped 1.5%. -
Macy’s dons its patriotic colors
NEW YORK — The Fourth of July fireworks extravaganza is not the only patriotic item on Macy’s all-American agenda. The retailer is launching its American Icons campaign, featuring American-inspired merchandise, Wednesday, May 15.
The campaign includes launch parties, “pop up” drive-in movies, cross-country road trips, Major and Minor League baseball events, grilling competitions, sweepstakes and a fundraising program to benefit America’s veterans.