Cache narrows Q4 loss as it trims expenses

New York City Cache said Friday that its fiscal fourth-quarter loss narrowed on reduced expenses. The women’s clothing retailer reported that it lost $1.2 million for the period ended Jan. 2, compared with a loss of $5.5 million the same quarter of the previous year.

Sales dipped 1% to $65 million, from $65.9 million as same-store sales fell 7%. Total expenses declined to $28.9 million from $30.4 million.

Chairman and CEO Thomas Reinckens said that he was disappointed with the quarterly performance, as the company used many promotions during the holidays and has ramped up markdowns as it reworks its product assortment.

For 2009, Cache reported a loss of $8.7 million, compared with its loss of $7.1 million a year before.

Annual sales slid 17% to $219.8 million, from $265.7 million.