Mr. Brian Woolf disappointed with Dec sales results

11 Jan '08

3 min read

Cache Inc, a specialty chain of women's apparel stores with 296 stores open, reported December 2007 sales figures.

For the 5-week period ended December 29, 2007, comparable store sales (sales for stores open at least one year or more) decreased 10%, as compared to an increase of 4% in the prior-year period ending December 30, 2006. Total net sales for the 5-week period decreased $2.1 million or 5% to $37.1 million, as compared to last year. Net sales for the 5-week fiscal 2006 period included $0.2 million in sales from the former Lillie Rubin chain.

For the 13-week period ended December 29, 2007, comparable store sales decreased 7%, as compared to an increase of 7% in the prior-year period ending December 30, 2006. Total net sales for the 13-week period decreased $3.6 million, or 4% to $79.9 million, as compared to last year. Net sales for the 13-week fiscal 2006 period included $0.6 million in sales from the former Lillie Rubin chain.

For the 52-week period ended December 29, 2007, comparable store sales decreased 1%, as compared to an increase of 5% in the same period in 2006. Total net sales for the 52-week period decreased $3.1 million, or 1% to $275.9 million, as compared to $279.0 million last year. Revenue for the 52-week fiscal 2006 period included $13.1 million in sales from the former Lillie Rubin chain.

Mr. Brian Woolf, Cache's Chairman and CEO commented: “We were disappointed with our December sales results. Despite this, wecontinue to expect fourth quarter earnings in 2007 to be above the fourth quarter earnings last year. As we begin January, our sales trends are solidly positive over the first ten days of the month. We continue to believe we have identified initiatives that will lead to increased earnings in the near and long term.”

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