Cache Announces Executive Appointment Daphne Pappas Named Executive Vice President, Chief Merchandise Officer Business Wire NEW YORK -- April 02, 2013 Cache Inc., (NASDAQ: CACH), a specialty chain of women’s apparel stores, today announced that Daphne Pappas has joined the Company as Executive Vice President, Chief Merchandise Officer. Ms. Pappas brings over 30 years of retail industry experience to Cache. For the past ten years, she served as Vice President General Merchandising Manager for Burberry America’s where she led the Company’s women’s business. Under her direction, Burberry America’s recorded strong sales and profitability growth through her ability to collaborate across all business areas and develop a focused assortment that met with increased consumer demand. Prior to this, Ms. Pappas was the Divisional Merchandise Manager of Juniors Sportswear at Macy’s East, a $150 million business in 82 stores. During her career at Macy’s East she developed and implemented a strategic vision for Juniors, worked closely with Marketing, Federated Merchandising and Store Operations to create a differentiated statement and to achieve corporate goals. In addition, she identified growth opportunities through a strategy that resulted in significant overall growth and profitability. Before Macy’s East, Daphne spent 13 years at Saks Fifth Avenue in various roles with increasing responsibility. In her most senior role at Saks she held the title of VP/Director, Merchandise Manager of Bridge Sportswear, Coats, Suits, Dresses, and Evening, which generated $162 million in 62 stores. In this role, she redirected and refocused the contemporary business in order to establish Saks as a leading contemporary retailer that appealed to a new and younger customer with great success. She also developed trend shops to set seasonal direction, and created and grew a new line of business, which offered higher levels of fashion that would differentiate Saks from its peers. Daphne grew the Bridge business over 20% in four years and repositioned the “Real Clothes” brand to satisfy lifestyle needs while successfully increasing gross margin. Jay Margolis, Chairman and Chief Executive Officer, commented, “We are excited to attract Daphne to our leadership team as Chief Merchandising Officer given her strong understanding of the Cache brand and business model, as well as her unique perspective to deliver a balanced mix of price points and promotions, and her history of creating a vision to substantially grow retail businesses. Daphne’s proven ability to interpret a brand vision and work collaboratively across all aspects of the business to deliver consistently strong selling assortments will be highly valuable to us as we position Cache to become a top destination for all of our customers lifestyle needs and to expand our consumer reach.” Daphne Pappas, Chief Merchandising Officer, stated, “I have long admired Cache for its sophisticated and unique style. I am honored to apply my passion for developing retail brands to assist Jay and the management team towards achieving the Company’s full potential." 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 251 stores, primarily situated in central locations in high traffic, upscale malls in 42 states, the Virgin Islands and Puerto Rico. Forward-Looking Statements and Other Information 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, satisfaction of the conditions relating to the rights offering, industry trends, merchandise and fashion trends, competition, seasonality and changes in general economic conditions and consumer spending patterns, reliance on foreign manufacturers, dependence on management, dependence on vendors and distributors, material weakness in our internal controls, as well as other risks outlined from time to time in the filings of Cache, Inc. with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The rights offering will be made only by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. Contact: Company Contact: Cache, Inc. Maggie Feeney, Executive Vice President and Chief Financial Officer, (212) 575-3206 or Investor Relations: ICR, Inc. Allison Malkin/Rachel Schacter, (203) 682-8225/(646) 277-1243
Cache Announces Executive Appointment
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