Cache Reports 6% Comparable Store Sales Increase in June 2008.Company Increases Second Quarter Guidance Range Announces Participation in the Oppenheimer 8th Annual Consumer Growth Conference NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Cache Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CACH CACH Canyon de Chelly National Monument (US National Park Service) CACH Carolina Chickadee CACH Canadian Adult Congenital Heart Network CACH Chicago Area Consolidation Hub (United Parcel Service) ), a specialty chain of women's apparel stores with 297 stores open at June 28, 2008, reported June 2008 sales figures sales figures npl → cifras fpl de ventas . For the five-week period ended June 28, 2008, comparable store sales (sales for stores open at least one year or more) increased 6%, as compared to an increase of 1% for the five-week period ended June 30, 2007. Total net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the five-week June 2008 period increased $1.3 million or 6% to $23.3 million, as compared to the same period last year. For the thirteen-week period ended June 28, 2008, comparable store sales increased 3%, as compared to an increase of 1% in the thirteen-week period ended June 30, 2007. Total net sales for the thirteen-week fiscal 2008 period increased $3.0 million or 4% to $74.1 million, as compared to the thirteen-week fiscal 2007 period. For the 26-week period ended June 28, 2008, comparable store sales increased 3%, as compared to an increase of 1% in the twenty six-week period ended June 30, 2007. Total net sales for the twenty six-week fiscal 2008 period increased $6.4 million or 5% to $141.8 million, as compared to the twenty six-week fiscal 2007 period. Thomas Reinckens, Chairman and Chief Executive Officer of Cache, Inc. commented: "Our strategies continue to prove successful, as evidenced by the 6% increase in comparable store sales, we reported for June. As a result, we have raised our second quarter guidance. We believe our initiatives aimed at reaching more consumers and increasing purchasing frequency, such as with the introduction of both our Contour product and opening price points on select styles will continue to provide for our growth this year. We remain excited about our opportunities during the upcoming fall and holiday seasons." During the month, the Company's store count remained unchanged at 297 stores. In early July, the Company opened one new Cache store and closed two Cache Luxe luxe n. 1. The condition of being elegantly sumptuous. 2. Something luxurious; a luxury. [French, luxury, from Latin luxus. stores. The Company currently has 296 stores open. Guidance Based on better-than-expected second quarter fiscal 2008 sales, the Company is increasing its second quarter guidance. The Company is also introducing guidance for the third and fourth quarters of fiscal 2008 and for the full fiscal 2008 year. The Company expects to report full results for the second quarter of fiscal 2008 the week of July 21, 2008. The Company currently expects second quarter fiscal 2008 diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of in the range of $0.14 to $0.15, which compares to its previous expectation for second quarter fiscal 2008 diluted earnings per share of $0.12 to $0.14 and actual diluted earnings per share of $0.08 in the second quarter of fiscal 2007. For the third quarter of fiscal 2008, the Company currently expects net sales in the range of $62 million to $64 million and diluted earnings per share in the range of $0.01 to $0.02. The Company expects third quarter fiscal 2008 comparable store sales to increase in the low to mid-single digit A single character in a numbering system. In decimal, digits are 0 through 9. In binary, digits are 0 and 1. digit - An employee of Digital Equipment Corporation. See also VAX, VMS, PDP-10, TOPS-10, DEChead, double DECkers, field circus. range. This compares to actual third quarter fiscal 2007 net sales of $60.6 million and diluted earnings per share of $0.01. For the fourth quarter of fiscal 2008, the Company currently expects net sales in the range of $82 million to $84 million and diluted earnings per share in the range of $0.38 to $0.40. The Company expects fourth quarter comparable store sales to increase in the low to mid-single digit range. This compares to actual fourth quarter fiscal 2007 net sales of $78.5 million and diluted earnings per share of $0.32. For the full fiscal 2008 year, the Company is introducing sales guidance in the range of $286 million to $290 million and guidance for diluted earnings per share on a GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). basis in the range of $0.38 to $0.42. This guidance includes costs of $0.14 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, which were incurred during the first quarter of fiscal 2008 and related to the Company's initiatives to improve profitability by closing 14 underperforming stores, as well as costs associated with a previous management change. On an adjusted basis, excluding store closing and management change costs the Company expects fiscal 2008 diluted earnings per share in the range of $0.52 to $0.56. This guidance compares to actual fiscal 2007 net sales of $274.5 million and diluted earnings per share of $0.40, inclusive of inclusive of prep. Taking into consideration or account; including. $0.04 per diluted share in legal settlement costs. Adjusted diluted earnings per share for fiscal 2007 were $0.44. Participation in the Oppenheimer 8th Annual Consumer Growth Conference The Company today announced that it will be presenting at the Oppenheimer 8th Annual Consumer Growth Conference being held at the Four Seasons Hotel in Boston, MA on Wednesday, July 9, 2008 at 10:15am ET. Tom Reinckens, Chairman and Chief Executive Officer, and Maggie Feeney, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition and Chief Financial Officer, will host the presentation. The conference presentation will be webcast live at www.cache.com. About Cache, Inc. Cache is a nationwide, mall-based specialty retailer of sophisticated, social occasion sportswear and dresses targeting style-conscious women. Cache targets women between the ages of 25 and 45 who have a youthful attitude, are self-confident and fashion-conscious, and require a missy fit. We operate 296 Cache and Cache Luxe stores primarily situated in central locations in high traffic, upscale malls in 43 states, the Virgin Islands and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . Certain matters discussed within this press release may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. . 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, ability to successfully open new stores, introduction of the Cache Luxe concept, dependence on management, dependence on vendors and distributors, reliance on foreign manufacturers, material weakness in our internal controls, industry trends, merchandise and fashion trends, competition, seasonality and changes in general economic conditions and consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. patterns, as well as other risks outlined from time to time in the filings of Cache, Inc. with the Securities and Exchange Commission. |
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