Cache Inc. announced that Rabia Farhang has joined the company as Executive Vice President and General Merchandise Manager. Ms. Farhang is a talented merchant with over 25 years experience in the retail industry. Most recently, she held the position of Vice President, Merchandising for White House Black Market. During her 12-year tenure at White House Black Market, she successfully led merchant teams in Sportswear as well as Dresses and Accessories.

Cache Inc. reported consolidated earnings results for the third quarter and nine months ended September 26, 2009. For the quarter, the company's net sales decreased 22.7% to $44.9 million from $58.1 million in the third quarter of fiscal 2008. Comparable store sales decreased 21.7%, as compared to a decrease of 3.9% in the third quarter of fiscal 2008. Net loss totaled was $6.8 million or $0.53 per diluted share compared to a net loss of $1.6 million or $0.12 per diluted share in the third quarter of fiscal 2008. Adjusted net loss was $5.5 million or $0.43 per share compared to an adjusted net loss of $1.4 million or $0.10 per share, excluding store closure costs, for the 13-week period in fiscal 2008. Operating loss was $10.85 million against $2.61 million a year ago. Interest income was $0.05 million against $0.12 million a year ago. Loss before income taxes was $10.85 million against $2.61 million a year ago. For the nine months, the company's net sales decreased 22.5% to $154.8 million from $199.8 million in the first nine months of fiscal 2008. Comparable store sales decreased 21.8% following a 1% gain in the first nine months of fiscal 2008. Net loss was $7.5 million or $0.59 per share, including $1.3 million or $0.10 per diluted share compared to a net loss of $1.6 million or $0.12 per diluted share a year ago. Adjusted net loss was $6.2 million or $0.48 per share, excluding separation agreement costs, as compared to net income of $531,000 or $0.04 per diluted share, excluding store closure and management change costs, in the first nine months of fiscal 2008. Operating loss was $12.06 million against $2.95 million a year ago. Interest income was $0.17 million against $0.61 million a year ago. Loss before income taxes was $12.03 million against $2.53 million a year ago. For the fourth quarter of fiscal 2009, the company estimates that net sales in the range of $62 million to $64 million, which compares to actual net sales of $65.9 million in fiscal 2008. This guidance assumes comparable stores sales in the fourth quarter of fiscal 2009 will decrease in the low double-digit range and compares to a comparable store sales decrease of 17% in the fourth quarter of fiscal 2008. Diluted earnings per share are estimated in the range of $0.12 to $0.15, which compares to actual fourth quarter fiscal 2008 loss per share on a GAAP basis of $0.42. For the remainder of fiscal 2009, the company plans to open one additional new store and close approximately five locations, ending the year with approximately 285 stores and approximately 575,000 square feet in operation.

Cache Inc., Q3 2009 Earnings Call, Oct 23 2009