Cache net income grows 21.5 percent

Specialty retailer Cache Inc., New York, today reported that its net income for the fourth quarter ended Dec. 31 grew by 21.5 percent to $7.5 million as compared to $6.2 million for the same period the previous year. Net sales rose by 0.9 percent to $79.3 million compared to $78.6 million, and comparable store sales gained 4 percent. Brian Woolf, chairman and CEO, said in a statement: "Our ability to connect with our customers through enticing assortments and innovative marketing led to the strong fourth quarter results we reported today. We reported a 20 percent increase in fourth quarter earnings per share and a 170 basis point improvement in operating margins. We look forward to continuing this positive momentum in 2006." In 2005, the company also completed 20 Cache remodels, resulting in 58.4 percent of its Cache store base in the new store format at year-end.