Cache (CACH) Reports 16% Drop In Comp Store Sales

Cache Inc., (NASDAQ: CACH) reported for the four-week January 2009 period ended January 24, 2009, comparable store sales (sales for stores open at least one year or more) decreased 16%, as compared to an increase of 7% in the prior-year period ended January 26, 2008. Total net sales for the four-week period decreased $2.8 million or 17% to $13.8 million, as compared to last year.

Thomas Reinckens, Chairman and CEO of Cache, Inc. commented: "Our January sales included a positive performance during the first week of the month, driven by dresses worn for the New Year's holiday. However, sales trends declined throughout the month, as challenges related to the economy held back new purchases. We have taken a number of actions to position Cache for increased market share and to preserve cash flow during this tough economy. To this end, we will maintain and intensify our fashion newness, while providing increased value to our customers. At the same time, we continue to be focused on inventory and expense management, positioning us to achieve positive cash flow despite our expectations for sales to remain weak during the year."

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Cache is a nationwide, mall-based specialty retailer of sophisticated, social occasion sportswear and dresses targeting style-conscious women.

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