Cache Issues 2Q Outlook Above Analyst Estimates

NEW YORK (AP) — Women's apparel retailer Cache Inc. on Tuesday gave initial guidance for its second-quarter that is down from its performance in the same quarter last year but above analyst estimates.

The company said in a news release Tuesday that it expects earnings per share to fall in a range of 4 cents to 7 cents. Last year in the period ending in June it earned 16 cents per share.

The company also predicted net sales will range from $57 million to $59 million, down from the same period last year, when the company's revenue was $74 million. Cache said the guidance assumes a similar same-store sales trend of the first quarter, where sales at stores open at least a year fell 20.7 percent.

Analysts predict the company will earn 3 cents a share in the second quarter on revenue of $62.2 million, according to Thomson Reuters.

Earlier this month Cache raised the low end of its first-quarter outlook on the same-store sales performance in the period ending March 28.

Cache currently expects a per-share net loss between 12 cents and 13 cents, compared with prior expectations for a net loss between 12 cents and 16 cents per share.

Analysts polled by Thomson Reuters expect a loss of 13 cents per share.

The company said Tuesday it would announce its first-quarter results on April 30.

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