Cache Inc. (NASDAQ: CACH), a specialty chain of women’s
apparel stores with 295 stores currently open, reported September 2008
sales figures.
For the five-week period ended September 27, 2008, comparable store
sales (sales for stores open at least one year or more) decreased 6%, as
compared to an increase of 3% for the five-week period ended September
29, 2007. Total net sales for the five-week September 2008 period
decreased $2.1 million or 8% to $24.8 million, as compared to the same
period last year.
For the thirteen-week period ended September 27, 2008, comparable store
sales decreased 4%, as compared to an increase of 4% in the
thirteen-week period ended September 29, 2007. Total net sales for the
thirteen-week fiscal 2008 period decreased $2.5 million or 4% to $58.1
million, as compared to the thirteen-week fiscal 2007 period.
For the 39-week period ended September 27, 2008, comparable store sales
increased 1%, as compared to an increase of 2% in the 39-week period
ended September 29, 2007. Total net sales for the 39-week fiscal 2008
period increased $3.8 million or 2% to $199.8 million, as compared to
the 39-week fiscal 2007 period.
Thomas Reinckens, Chairman and CEO of Cache, Inc. commented: “Our
September sales results were in line with our revised guidance,
reflecting the challenging consumer environment, which reduced
discretionary purchases. While our sportswear and day dress business
remained positive for the month, special occasion dress sales and
accessory sales did not materialize to the extent we expected. We
continue to prudently manage expenses and inventory. We also believe we
are implementing the right strategies to maximize sales and cash flow in
this difficult environment.”
During September, the Company opened one Cache store and closed one
Cache store and two Cache Luxe stores. For the quarter, the Company
opened three new stores and closed five locations, ending the period
with 295 stores open.
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of sophisticated,
social occasion sportswear and dresses targeting style-conscious women.
Cache targets women between the ages of 25 and 45 who have a youthful
attitude, are self-confident and fashion-conscious, and require a missy
fit. We operate 295 Cache and Cache Luxe stores primarily situated in
central locations in high traffic, upscale malls in 43 states, the
Virgin Islands and Puerto Rico.
Certain matters discussed within this press release may constitute
forward-looking statements within the meaning of the federal securities
laws. Although Cache, Inc. believes the statements are based on
reasonable assumptions, there can be no assurance that these
expectations will be attained. Actual results and timing of certain
events could differ materially from those projected in or contemplated
by the forward-looking statements due to a number of factors, including,
without limitation, ability to successfully open new stores,
introduction of the Cache Luxe concept, dependence on management,
dependence on vendors and distributors, reliance on foreign
manufacturers, material weakness in our internal controls, industry
trends, merchandise and fashion trends, competition, seasonality and
changes in general economic conditions and consumer spending patterns,
as well as other risks outlined from time to time in the filings of
Cache, Inc. with the Securities and Exchange Commission.
Cache Inc.
Maggie Feeney, 212-575-3206
Executive Vice
President and
Chief Financial Officer
or
Investor
Relations:
Integrated Corporate Relations
Allison Malkin/Jane
Thorn Leeson
203-682-8225/646-277-1223