USA: Cache Appointments Offset Disappointing Results
Cache Inc, (NASDAQ:CACH), a specialty chain of 211 women's apparel stores, has appointed Brian Woolf as chairman and chief executive officer. Mr Woolf joins Cache from Limited Stores where, until recently, he held the position executive vice president and general merchandise manager. Separately, the company announced the promotion of Thomas Reinckens to the position of president, chief operating officer. Mr Reinckens previously held the position of executive vice president, chief financial officer. Cache expects to report a loss for its third quarter, which ended on September 30 2000, greater than the 8 cents per share loss for the same period last year. Its nine months results for the current year will be approximately break even, compared to a profit of $1,455,000, $.16 cents per share, in 1999. Despite the disappointing nine-month results, the company anticipates results for the fourth quarter -traditionally its strongest - will be profitable.
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