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Cache Inc declares Q2 results on July 27

27 Jul '05

6 min read

At July 2, 2005, cash and marketable securities totaled $43.1 million, rising $2.5 million from $40.6 million at June 26, 2004. Inventory was $30.2 million, as compared to $27.5 million at June 26, 2004, an increase of 9.7 percent. Average inventory on a per store basis was down slightly from the second quarter last year. Working capital increased by $5.5 million to $56.3 million from $50.8 million at June 26, 2004.

Mr. Woolf continued: "They remain excited and confident about their prospects in the short and long term. Cache has certainly become a preferred shopping destination with its unique assortments, boutique setting and attentive service. Their new merchandise initiatives and enhanced marketing efforts, strong balance sheet and solid infrastructure provide us with a great platform to execute our expansion plans and importantly increase shareholder value."

Guidance

Based on better than expected second quarter results, the Company is increasing its guidance for fiscal 2005 net sales and diluted earnings per share. For fiscal 2005, the Company currently estimates net sales in the range of $271 million to $275 million, compared to its previous guidance range of $268 million to $272 million and versus actual net sales of $247.3 million in fiscal 2004. In addition, the Company currently estimates fiscal 2005 diluted earnings per share in the range of $0.78 to $0.81, compared to its previous guidance range of $0.75 to $0.78 and versusactual fiscal 2004 diluted earnings per share of $0.83. For the third quarter, the Company estimates net sales in the range of $57 million to $59 million, compared to actual sales of $49.4 million in the third quarter of fiscal 2004. The Company estimates third quarter-diluted earnings per share in the range of $0.02 to $0.04, as compared to an actual net loss per share of $0.03 in the third quarter of fiscal 2004.

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