Cache Reports 10 Percent Comparable Store Sales Increase in May 2005.
Comparable store sales (sales for stores open at least one year or more) increased 10% during the four week May 2005 period, as compared to the same period in 2004. Total sales for the four week period ended May 28, 2005 increased $3.2 million or 17.5% to $21.5 million.
Comparable store sales increased 2% during the 21 week period ended May 28, 2005, as compared to the same period in 2004. Total sales for the 21 week period increased $9.3 million or 9.4% to $108.3 million.
Mr. Brian Woolf, Cache's Chairman commented: "Comparable store sales for the month of May exceeded our expectations, as customers responded positively to our new denim and woven assortments, which we identified as strong performers earlier in the year. During the month we also continued to adjust prices for slower moving classification styles, which is expected to impact merchandising margins somewhat. Despite this, we continue to expect to meet our second quarter earnings expectations."
The Company also noted that it opened one new Cache store in May and currently operates 296 locations.
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, industry trends, merchandise and fashion trends, competition, changes in general economic conditions and consumer spending patterns, vendor procurement issues and the ability to obtain financing, as well as other risks outlined from time to time in the filings of Cache, Inc., with the Securities and Exchange Commission.
For further information contact Thomas E. Reinckens, President, Chief Operating Officer, Cache, Inc., 1440 Broadway, New York, New York 10018, (212) 575-3246.
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 2, 2005|
|Previous Article:||NEC and Itron Power-Up Alliance to Serve the Energy Industry; New Fault Tolerant Solution Will Provide Increased Uptime for Utility Companies...|
|Next Article:||Parents as Teachers National Center Redesigns Website with Extensive Content for Families, Innovative Scrapbook Feature to Celebrate Children.|