NEW YORK — Cache lost some of its earnings momentum in the first quarter as the specialty store retailer reported a double-digit decrease in profits.

The firm said that for the three months ended March 29, income fell 11.6 percent to $1.6 million, or 17 cents a diluted share, versus income of $1.9 million, or 20 cents, in the comparable year-ago period. Sales for the quarter rang in at $47.9 million, a 0.5 percent increase over year-ago sales of $47.6 million, but slipped 3 percent on a same-store basis.

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