Cache (CACH) Dec Comps Down 19%; Guides Lower

Cache Inc., (NASDAQ: CACH) December comparable store sales decreased 19%.

Based on the Company’s December sales results, it is revising its fourth quarter and fiscal 2008 guidance. The Company currently expects fourth quarter loss per share in a range of $(0.36) to $(0.38), which includes approximately $0.03 per share in store impairment costs, as compared to actual fourth quarter fiscal 2007 diluted earnings per share of $0.32. The consensus is a $0.04 losss.

For the full fiscal 2008 year, the Company currently estimates loss per share in the range of $(0.48) to $(0.50). This guidance includes costs related to store closures, store impairment and a management change totaling $0.21 per share. On an adjusted basis, excluding store closing and management change costs, the Company currently expects fiscal 2008 loss per share in the range of $(0.27) to $(0.29), as compared to actual fiscal 2007 diluted earnings per share of $0.40, inclusive of $0.04 per diluted share in legal settlement costs. Adjusted diluted earnings per share for fiscal 2007 were $0.44. The consensus is a $0.01 profit.

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