Cache Reports Second Quarter Fiscal 2012 Results

Third Quarter Fiscal 2012 Outlook

For the third quarter of fiscal 2012, the Company currently expects comparable store sales to increase in the low-to-mid single digit range, following an increase of 5.7% in the third quarter of fiscal 2011. The Company currently expects third quarter fiscal 2012 net loss per diluted share in the range of $0.22 to $0.25. This compares to a net loss per diluted share of $0.14 in the third quarter of fiscal 2011.

Conference Call Information

The Company announced that it will conduct a conference call to discuss its second quarter fiscal 2012 results today, August 14, 2012, at 9:00 a.m. Eastern Time. Investors and analysts interested in participating in the call are invited to dial [phone] approximately ten minutes prior to the start of the call. The conference call will also be web-cast live at www.cache.com. A replay of this call will be available at 12:00 p.m. ET on August 14, 2012 and remain active until 11:59 p.m. ET on August 21, 2012. The replay can be accessed by dialing [phone] and entering confirmation code 398482.

About Cache, Inc.

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. The Company currently operates 263 stores, primarily situated in central locations in high traffic, upscale malls in 42 states, the Virgin Islands and Puerto Rico.

Forward-Looking Statements

Certain matters discussed within this press release may constitute forward-looking statements within the meaning of the federal securities laws. Although Cache, Inc. believes the statements are based on reasonable assumptions, there can be no assurance that these expectations will be attained. Actual results and timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation, industry trends, merchandise and fashion trends, competition, seasonality, changes in general economic conditions and consumer spending patterns, the ability to successfully open new stores, reliance on foreign manufacturers and dependence on management and vendors and distributors, as well as other risks outlined from time to time in the filings of Cache, Inc. with the Securities and Exchange Commission. Cache, Inc. assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
			June 30,				December 31,				July 2,
ASSETS			2012				2011				2011
Current assets:
Cash and equivalents			$	14,334,000			$	22,509,000			$	8,706,000
Marketable securities				7,019,000				4,008,000				15,613,000
Certificate of deposits - restricted				3,000,000				3,000,000				3,000,000
Receivables, net				2,359,000				3,403,000				2,426,000
Income tax receivable				267,000				162,000				50,000
Inventories, net				22,267,000				22,075,000				18,350,000
Prepaid expenses and other current assets				2,516,000				1,572,000				4,787,000
Total current assets				51,762,000				56,729,000				52,932,000
Equipment and leasehold improvements, net				20,166,000				18,937,000				21,716,000
Intangible assets, net				102,000				102,000				102,000
Other assets				9,040,000				8,877,000				8,176,000
Total assets			$	81,070,000			$	84,645,000			$	82,926,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable			$	7,957,000			$	9,565,000			$	6,465,000
Note payable				-				-				1,455,000
Accrued compensation				2,560,000				2,579,000				2,414,000
Accrued liabilities				9,338,000				10,217,000				9,062,000
Total current liabilities				19,855,000				22,361,000				19,396,000
Other liabilities				10,387,000				11,487,000				12,922,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock				166,000				165,000				165,000
Additional paid-in capital				48,626,000				48,419,000				48,284,000
Retained earnings				41,831,000				42,008,000				41,954,000
Treasury stock, at cost				(39,795,000	)			(39,795,000	)			(39,795,000	)
Total stockholders' equity				50,828,000				50,797,000				50,608,000
Total liabilities and stockholders' equity			$	81,070,000			$	84,645,000			$	82,926,000

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
			26 Weeks Ended				26 Weeks Ended
			June 30,				July 2,
			2012				2011
Net sales			$	117,628,000			$	112,365,000
Cost of sales, including buying and occupancy				69,048,000				62,930,000
Gross profit				48,580,000				49,435,000
Expenses
Store operating expenses				39,459,000				37,533,000
General and administrative expenses				9,467,000				9,003,000
Total expenses				48,926,000				46,536,000
Operating income (loss)				(346,000	)			2,899,000
Other income (expense):
Interest expense				-				(31,000	)
Interest income				42,000				44,000
Income (loss) before income taxes				(304,000	)			2,912,000
Income tax provision (benefit)				(127,000	)			885,000
Net income (loss)			$	(177,000	)		$	2,027,000
Basic earnings (loss) per share			$	(0.01	)		$	0.16
Diluted earnings (loss) per share			$	(0.01	)		$	0.16
Basic weighted average shares outstanding				12,877,000				12,822,000
Diluted weighted average shares outstanding				12,877,000				12,861,000

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
			13 Weeks Ended			13 Weeks Ended
			June 30,			July 2,
			2012			2011
Net sales			$	61,633,000		$	60,266,000
Cost of sales, including buying and occupancy				35,250,000			32,752,000
Gross profit				26,383,000			27,514,000
Expenses
Store operating expenses				20,117,000			19,396,000
General and administrative expenses				4,589,000			3,959,000
Total expenses				24,706,000			23,355,000
Operating income				1,677,000			4,159,000
Other income (expense):
Interest expense				-			(13,000	)
Interest income				24,000			23,000
Income before income taxes				1,701,000			4,169,000
Income tax benefit				670,000			1,370,000
Net income			$	1,031,000		$	2,799,000
Basic earnings per share			$	0.08		$	0.22
Diluted earnings per share			$	0.08		$	0.22
Basic weighted average shares outstanding				12,880,000			12,827,000
Diluted weighted average shares outstanding				12,928,000			12,873,000

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