Cache swings to profit in Q4

New York -- Fashion retailer Cache reported Thursday that net income for the fourth quarter ended Dec. 31 was $1.9 million, compared with a loss of $14.2 million the year-ago period.



Sales surged 12.5% to $62.9 million, from $55.9 million in the fourth quarter of fiscal 2010. Same-store sales increased 12.4%.



Year to date the company has closed 12 underperforming stores and said it expects to close five more stores and open two in fiscal 2012.