Cache Reports 6% Comparable Store Sales Decrease in September 2008

October 8, 2008 7:00 AM EDT

NEW YORK--(BUSINESS WIRE)--

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.

Source: Cache Inc.

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