Home / Knowledge / News / Apparel/Garments / Cache Q4'FY13 comparable store sales dip 5.9%
Cache Q4'FY13 comparable store sales dip 5.9%
26
Mar '14
Cache, Inc., the specialty chain of women’s apparel stores, reported results for the thirteen (“fourth quarter”) and fifty-two week (“fiscal 2013”) periods ended December 28, 2013.
 
For the 13-week period ended December 28, 2013:
-Net sales were $55.8 million, compared to $60.8 million in the fourth quarter of fiscal 2012 and comparable store sales decreased 5.9%.
-Gross profit was $20.3 million, or 36.4% of net sales and increased 240 basis points from $20.7 million, or 34.0% of net sales, in the fourth quarter of fiscal 2012.
-Operating loss totaled $4.7 million, inclusive of $1.0 million in non-cash asset impairment charges and $106,000 in employee separation charges. This compares to an operating loss of $5.0 million in the fourth quarter of 2012, inclusive of $1.1 million in non-cash asset impairment charges and $61,000 in employee separation charges.
-Net loss totaled $4.8 million, or $0.23 per diluted share, as compared to net loss of $5.5 million, or $0.43 per diluted share, in the fourth quarter of 2012.
-Adjusted net loss, totaled $3.6 million, or $0.17 per diluted share, as compared to adjusted net loss of $2.3 million, or $0.18 per diluted share, in the fourth quarter of fiscal 2012. 
 
Jay Margolis, Chairman and Chief Executive Officer, commented: “Fiscal 2013 was a pivotal year for Cache, during which we set a course to position the Company to take advantage of a significant white space opportunity in apparel retail. During the year, we added key talent across all facets of our business from design to merchandising to marketing and e-commerce. 
 
“At year end, we successfully transitioned our merchandise assortment to capitalize on our opportunity in event dressing; we re-positioned our e-commerce business to enhance and build our brand; and we refreshed select stores. All of these actions position us to achieve our goal to become the premiere apparel destination for all events in a woman’s life. 
 
“Our priorities in fiscal 2014 are focused on delivering powerful assortments; continuing to refresh our stores; building brand awareness by showcasing our improved fashion in our stores; as well as through high impact marketing and online activities. I believe we are well positioned to capitalize on the opportunities that lie ahead for the brand and I am confident in our ability to return the Company to profitability and sustained long-term growth.”
 
Key Business Milestones in Fiscal 2013:
Jay Margolis assumed the role of Chief Executive Officer (“CEO”) and Chairman of the Board of Directors in February 2013. Mr. Margolis is a highly accomplished executive with over 30 years of retail, merchandising and product development experience in the specialty retail industry.
 
In 2013, Mr. Margolis has focused on re-establishing Cache as a premier brand and destination for stylish and fashion conscious women and improving operational efficiencies. 
 
Click here to view full results.
 

Cache

Must ReadView All

Textiles | On 25th Jul 2016

Cotton prices unlikely to fall in near future

Notwithstanding the Union Ministry of Textile’s direction to the...

Textiles | On 25th Jul 2016

China imposes anti-dumping duties on acrylic fibres

China’s ministry of commerce (MOFCOM) has announced imposition of...

Courtesy: Industrial Parks Development Corporation, Ethiopia and Ethiopian News Agency

Apparel/Garments | On 25th Jul 2016

30k workforce to be trained for Hawassa Industrial Park

An agreement has been signed to source, recruit and train 30,000...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
june 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search