Cache Inc., (NASDAQ: CACH), a specialty chain of women’s apparel stores, today announced that Anthony DiPippa (“Tony”) will join the Company as Executive Vice President, Chief Financial Officer on August 7, 2013. Mr. DiPippa, succeeds Margaret Feeney (“Maggie”), who resigned from the Company today, August 1, 2013.
Anthony DiPippa comes to Cache with over 16 years of experience in finance with leading companies including W.B. Mason, Godiva Chocolatier, Dun and Bradstreet and Procter & Gamble. Most recently, he was Chief Financial Officer of W. B. Mason, a $1.2 billion office products and furniture company. At W.B. Mason, Tony upgraded the finance and accounting function to drive process improvement, increase financial discipline and generate cost savings. Prior to W. B. Mason, Tony held the position of Vice President, North America Finance at Godiva Chocolatier where he was responsible for evaluating and executing opportunities for financial planning, strategy, budgeting, business analysis, reporting, pricing analysis and internal controls. While at Godiva, Tony spearheaded profit improvement plans, redesigned and created key financial processes to enhance business analysis and decision-making, and led key elements of the divestiture of Godiva from Campbell’s.
Jay Margolis, Chairman and Chief Executive Officer, commented “We are pleased to have Tony join our executive team as Chief Financial Officer. I know Tony professionally, and his proven track record of success in leading finance teams and developing the processes and disciplines that support long term strategic growth plans make him uniquely suited for this important role. I would also like to thank Maggie for her 21 years of dedicated service to Cache and wish her the best in the future.”
Mr. DiPippa commented: “Cache is a strong brand with a loyal following and significant potential. I look forward to working with Jay and assisting the Company to build a world class finance function supporting the initiatives that are expected to bring about sustained profitable growth.”
Margaret Feeney stated: “I am pleased to be leaving the Company in great hands. My time at Cache has been truly rewarding and I am confident that the team will move the business forward in a positive direction.”
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 250 stores, primarily situated in central locations in high traffic, upscale malls in 41 states, the Virgin Islands and Puerto Rico.
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, our ability to successfully implement our business strategy and to integrate new members of management, industry trends, merchandise and fashion trends, competition, seasonality, changes in general economic conditions and consumer spending patterns, as well as other risks outlined from time to time in the filings of Cache, Inc. with the Securities and Exchange Commission.
Allison Malkin/Rachel Schacter
(203) 682-8225/(646) 277-1243
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