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Cache announces amicable resolution of Chico's claims
13
Apr '11
Cache Inc, a specialty chain of women's apparel stores, announced that Cache, Inc. (Cache), two Cache employees, Rabia Farhang and Christine Board, Chico's FAS, Inc., (Chico's) and White House | Black Market, Inc have amicably resolved all claims in the lawsuit filed by Chico's and WHBM. The terms of the settlement are confidential.

Company Increases First Quarter Fiscal 2011 Guidance and Confirms Second Quarter Fiscal 2011 Guidance

The Company currently expects first quarter fiscal 2011 loss per share in the range of $0.06 to $0.07, which is improved from its previous guidance for a loss of $0.07 to $0.09 per share provided on April 1, 2011. This current guidance also represents a significant improvement from first quarter fiscal 2010 loss per share of $0.32. First Quarter fiscal 2011 comparable store sales rose 8%, as compared to a 6.8% decline in the first quarter of fiscal 2010.

For the second quarter of fiscal 2011, the Company continues to expect comparable store sales to increase in the mid-single digit range following a 5.1% increase in the second quarter of fiscal 2010. The Company also continues to expect second quarter fiscal 2011 net income in the range of $0.16 to $0.18 per diluted share, as compared to net income of $0.07 per diluted share in the second quarter of fiscal 2010.

Cache is a nationwide, mall-based specialty retailer of sophisticated sportswear and social occasion dresses targeting style-conscious women who have a youthful attitude and are self-confident. We currently operate 280 stores, primarily situated in central locations in high traffic, upscale malls in 43 states, the Virgin Islands and Puerto Rico.

Cache Inc

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