Brian Woolf, Cache's Chairman commented: "Their comparable store increase of 4 percent included sales strength at their Cache stores.
This was partially offset by a difficult season at their Lillie Rubin locations and higher than anticipated promotions at both chains.
As such, they now expect fourth quarter earnings at the lower end of their previous guidance range.
On a positive note, their inventories are in excellent shape, and at year end were approximately 3 percent below the prior year, on a per store basis."
Store Expansion
During fiscal 2005, the Company opened 17 new Cache stores and 2 new Lillie Rubin stores.
In total, the Company ended the 2005 fiscal year with 306 stores, including 267 Cache and 39 Lillie Rubin locations.
The Company also noted that it opened one new Cache store in November and currently operates 306 Cache and Lillie Rubin locations.
For the year-to-date period, the Company has opened 19 new stores and has closed 4 stores in Fiscal 2005.
In addition, the Company has remodeled 21 stores during Fiscal 2005.
Cache 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.
Lillie Rubin stores offer a more sophisticated line of social occasion apparel targeting women between the ages of 35 and 55.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
