Dramatic improvement in Cache's bottom line results
18 May '11
4 min read
Store Opening Plans
During the first quarter, the Company opened no new stores and closed two locations, ending the quarter with 280 stores in operation. For fiscal 2011, the Company expects to open no new additional stores and close approximately two additional existing locations, ending the year with approximately 278 locations and approximately 565,000 square feet in operation.
Second Quarter 2011 Outlook
For the second quarter of fiscal 2011, the Company continues to expect comparable store sales to increase in the mid-single digit range following a 5.1% increase in the second quarter of fiscal 2010. The Company currently expects second quarter fiscal 2011 net income at the high end of its previous guidance range of $0.16 to $0.18 per diluted share. This compares to net income of $0.07 per diluted share in the second quarter of fiscal 2010. In addition, the Company expects cash and marketable securities to approximate $28 million at the end of the second quarter.
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