Ladies' wear retailer Cache said increased expenses pushed down first-quarter profit, but reported slightly improved sales during the period.

Quarterly net income was US$1.7m compared to $1.8m in the same period last year, as revenue rose to $63.8m from $62.8m a year ago - a 1.6% increase. Same-store sales were up 1%.

Chairman Brian Woolf said: "We are pleased with our first-quarter results, which were at the high end of our revised guidance. Our Cache stores delivered a strong performance driven by the successful execution of our merchandising and marketing initiatives."