Sportswear maker Cache reports June 2006 sales guidance
07 Jul '06
3 min read
Total Sales:
-- Increased $600,000 or 3 percent to $22.0 million for the five week period ended July 1, 2006;
-- Increased $4.7 million or 7 percent to $71.7 million for the 13 week period ended July 1, 2006; and
-- Increased $5.7 million or 4 percent to $135.5 million for the 26 week period ended July 1, 2006.
The Company also noted that it opened 6 new Cache stores and closed 2 Lillie Rubin stores and 1 Cache store in June. The Company currently operates 272 Cache and 37 Lillie Rubin locations.
Guidance
The Company indicated that it currently expects second quarter diluted earnings per share in the range of $0.08 to $0.10, consistent with previous guidance and versus actual second quarter diluted earnings per share of $0.19 in fiscal 2005.
This includes an additional $0.04 to $0.05 in costs to exit Lillie Rubin leases, as information for these costs was not available when the Company provided its previous guidance on May 15, 2006. Pro forma results for the second quarter of fiscal 2006 are currently estimated in the range of $0.34 to $0.37 per diluted share. Pro forma results exclude restructuring costs and losses attributed to Lillie Rubin, which the Company plans to exit by the end of the third quarter.
Cache Inc is a nationwide, mall-based specialty retailer of sophisticated, social occasion sportswear and dresses targeting style-conscious women. It targets women between the ages of 25 and 45 who have a youthful attitude, are self-confident and fashion-conscious, and require a missy fit.
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