CACHE’S NEW CONCEPT: Cache Inc., which operates 265 Cache and 39 Lillie Rubin locations, plans to exit its Lillie Rubin business and convert 17 of the sites to a new format called Cache Luxe. Two Lillie Rubin locations will become Cache stores. The remaining Lillie Rubin units are expected to be closed by the end of the fiscal third quarter.
JUICY RECALL: Juicy Couture, which is owned by Liz Claiborne Inc., has recalled about 2,800 bracelets and necklaces because they contain high levels of lead. The recall is for the style numbers YJRU0722, YJRU0273 and YJRU0538. Department stores sold the products between September 2005 and last month. The company has requested that consumers return the jewelry to the place of purchase for a full refund.
ESCADA PROMOTION: Cynthia Srednicki has been promoted to vice president of public relations and events at Escada (USA) Inc. Srednicki will oversee Escada’s press efforts in the U.S. for the company’s various labels, including Collection, Evening & Couture, Escada Sport and Escada Edition. In addition, she will be in charge of planning events, from retail to wholesale, and overall brand promotion, in the U.S. Srednicki joined Escada as director of public relations last year. Before, she owned public relations firm Vision PR, which she closed to join Escada. In her new job, she continues to report to Lawrence C. DeParis, Escada (USA) Inc.’s president and chief operating officer.
BENETTON SLIPS: Benetton registered slightly lower net profits in the first quarter of this year but emphasized it was on track to reach full-year 2006 forecasts. The Italian fashion house said Monday that net profits for the three months ended March 31 slid 10.1 percent to 24 million euros, or $28.9 million. All figures are converted at average exchange rates for the period to which they refer. Consolidation of its retail operations in Turkey helped Benetton’s revenues advance 8.6 percent to 416 million euros, or $500 million, in the quarter. In a statement, the company said apparel sales climbed 9.5 percent to 389 million euros, or $468 million, and noted ongoing growth in markets such as the Mediterranean Basin, South Korea, China and India. Benetton confirmed previously released guidance for 2006 that revenue would grow at a rate “at least equal” to that of 2005 and that net profit would come in at 6.5 percent of sales.