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Cache Inc declares Q2 results on July 27

27 Jul '05

6 min read

Sportswear maker Cache Inc specialty chain of women's apparel stores with 298 stores currently open, reported results for the 13 and 26 week periods ended July 2, 2005.

For the 13 week period ended July 2, 2005:

-- Net sales increased 7.9 percent to $67.0 million compared to $62.1 million in the second quarter of 2004 and comparable store sales gained 5 percent.

-- Operating income totaled $4.7 million, or 7.0 percent of net sales, as compared to $7.1 million, or 11.4 percent of net sales in the second quarter of 2004.

-- Net income totaled $3.0 million, or $0.19 per diluted share, as compared to $0.27 per diluted share last year.

For the 26 week period ended July 2, 2005:

-- Net sales increased 8.8 percent to $129.8 million compared to $119.3 million in the first half of 2004 and comparable store sales gained 3 percent.

-- Operating income totaled $7.5 million, or 5.8 percent of net sales, as compared to $12.3 million, or 10.3 percent of net sales in the first half of 2004.

-- Net income totaled $4.8 million, or $0.30 per diluted share, as compared to $0.48 per diluted share last year.

Mr. Brian Woolf, Cache's Chairman commented: "The second quarter marked a pivotal period for Cache. They reported earnings that were ahead of our revised expectations, as their efforts to increase the fashion assortments met with improved results. They also successfully reduced their basic classification styles and currently are in the position to fully capitalize on the excitement that is developing for us in sportswear and casual apparel. They are delighted to begin the second half of the year with their Cache stores positioned for growth."

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