Cache profit down
New York City Cache said Friday that it lost more money in its fiscal third quarter than a year earlier, weighed down by lower-than-expected sales and markdowns. The retailer said, however, that it expects to be profitable in its fourth quarter, as the company adjusts its merchandising strategy heading into the holiday shopping period.
For the period ended Sept. 26, Cache lost $6.8 million, compared with a loss of $1.6 million a year ago.
“We were disappointed with our third-quarter results, which reflected lower-than-expected sales and our decision to accelerate markdowns in anticipation of our new fall and holiday assortments,” chairman and CEO Thomas Reinckens said in a statement.
Sales declined 23% to $44.9 million from $58.1 million last year. The results missed Wall Street’s $48.3 million estimate. Same-store sales fell 21.7%.
Office Depot announces availability of Windows 7
BOCA RATON, Fla. Office Depot announced the retail chain will offer Windows 7. Customers will be able to purchase the highly anticipated software at any one of the Office Depot retail store nationwide or online at www.officedepot.com/windows7.
Customers who currently own a PC can upgrade to Windows 7 Home Premium for only $119.99 or Windows 7 Professional for only $199.99. To help customers select the suitable software, Office Depot store associates have undergone Windows 7 training.
As part of the Windows 7 launch, Office Depot are offering their customers deals such as free installation until Jan. 2; over $1,000 worth of software after instant, mail-in and/or upgrade savings when purchased with any Windows 7 or Microsoft Office software, valid until Dec. 26; a coupon book with over $300 in storewide savings when a customer purchases Windows 7 valid until Nov. 21; and free online tutorials to help customers get started using Windows 7
Office Depot’s Tech Depot Services is offering support for Windows 7 customers such as Windows 7 data backup service; Windows 7 optimization and protection services, priced at $59.99; and personalized, 1-on-1 Windows 7 tech support for 90 days, including 1,500 how-to tutorials to help guide you through Windows 7, available 24/7 and priced at $59.99.
Target gets ready for Carlos Falchi
MINNEAPOLIS , Minn. Target is partnering with designer Carlos Falchi to launch a limited-edition handbag collection, Carlos Falchi for Target.
This collection is the ninth handbag launch in a series of limited-time-only accessories at Target. The Carlos Falchi for Target collection will be available at most Target stores nationwide and at Target.com beginning Nov. 1 through Dec. 27.
The Carlos Falchi for Target collection features the designer’s combinations of color, pattern and texture in deep hues and jewel-tones on signature silhouettes. The line also includes hobos, satchels, shoulder and messenger bags in shades of plum, teal, brown, black and gray with interior compartments and everyday-sized pockets. The collection features Falchi’s collage techniques and python-inspired solid prints finished with stitch detailing. The Carlos Falchi for Target collection ranges in price from $19.99 to $49.99.