Cache Comparable Store sales rise in June

09 Jul '08

4 min read

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 basis in the range of $0.38 to $0.42. This guidance includes costs of $0.14 per diluted 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 $0.04 per diluted share in legal settlement costs. Adjusted diluted earnings per share for fiscal 2007 were $0.44.

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