• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Apparel retailer Cache posts 2.3% sales growth in Q2

15 Aug '12
5 min read

In total, operating expenses for the second quarter of fiscal 2012 were $24.7 million, or 40.0% of net sales, as compared to $23.4 million, or 38.8% of net sales, in the second quarter of fiscal 2011.

For the first six months of fiscal 2012, operating expenses were $48.9 million, or 41.6% of net sales, compared to $46.5 million, or 41.4% of net sales, in the first six months of fiscal 2011.

The increase in operating expenses for the second quarter and first six months of fiscal 2012 were driven by increased marketing and e-commerce related expense. In addition, as compared to last year, professional fees increased primarily due to a $450,000 legal fee reimbursement that positively impacted last year’s second quarter.

At June 30, 2012, cash and marketable securities totaled $24.4 million, as compared to $27.3 million in cash and marketable securities at July 2, 2011. Total inventory at cost increased 21.3% at quarter end from the prior year period.

Store Opening Plans

During the second quarter, the Company opened one store and closed five existing locations, ending the period with 264 stores in operation. For fiscal 2012, the Company expects to open no new additional stores and close one additional location, ending the year with approximately 263 locations and 532,000 square feet in operation.

Third Quarter Fiscal 2012 Outlook

For the third quarter of fiscal 2012, the Company currently expects comparable store sales to increase in the low-to-mid single digit range, following an increase of 5.7% in the third quarter of fiscal 2011. The Company currently expects third quarter fiscal 2012 net loss per diluted share in the range of $0.22 to $0.25. This compares to a net loss per diluted share of $0.14 in the third quarter of fiscal 2011.

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.

Cache Inc

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search