USA: Cache, Inc. NASDAQ Common Stock Symbol CACH
Cache Inc., (NASDAQ:CACH), a specialty chain of exclusive women's apparel stores with 209 stores open (185 Cache stores and 24 Lillie Rubin stores) and on line at the Company's web site at www.cache.com , reported results for the thirteen week period ended April 1, 2000. Net sales increased $4,428,000 or 12% to $40,914,000 during the thirteen week period ended April 1, 2000, as compared to the thirteen week period in fiscal 1999. Same store sales increased approximately 3% for the thirteen week period. Net income decreased to $327,000 or $.04 per share for the 13 week period in Fiscal 2000, from $752,000 or $.08 per share for the Fiscal 1999 period. Mr. Andrew Saul, Cache's Chairman, commented, "We believe the reduction in net income for the first quarter was due in part to the shift of the Easter Holiday into the April 2000 period, as compared to March 1999. We have been encouraged by the favorable reaction of our customer base to our Spring merchandise offerings. We have seen higher comparable store sales increases in our sportswear separates and accessory areas over the past several weeks." Separately, the Company also announced it opened seven new Lillie Rubin stores and closed one Lillie Rubin store during the Fiscal 2000 first quarter. The Company also recently opened two new Cache stores.
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