Cache October same-store sales fall 11 percent

Analysts surveyed by Thomson Reuters, on average, expected same-store sales to fall 9.4 percent.

Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones.

For the four-weeks ended Oct. 25, total sales fell 10 percent to $18.5 million.

The New York company said consumer spending weakened during the month and declines in mall traffic hurt sales.

Company Chief Executive Thomas Reinckens said Cache will cut costs, keep inventory tight and ramp up marketing to help improve results.

Year-to-date, same-store sales were flat and total sales rose 1 percent to $218.4 million.