This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cache Reports Second Quarter Fiscal 2011 Results

Cache, Inc., (NASDAQ: CACH), a specialty chain of women’s apparel stores, reported results for the thirteen (“second quarter”) and twenty-six week periods (“first six months”) ended July 2, 2011.

For the 13-week period ended July 2, 2011:

  • Net sales increased 6.5% to $60.3 million from $56.6 million in the second quarter of fiscal 2010. Comparable store sales increased 6.0%, which compares to an increase of 5.1% in the second quarter of fiscal 2010;
  • Gross profit increased 10.4% to $27.5 million, or 45.7% of net sales from $24.9 million, or 44.1% of net sales in the second quarter of fiscal 2010;
  • Operating income totaled $4.2 million, as compared to $1.4 million in the second quarter of fiscal 2010; and
  • Net income totaled $2.8 million, or $0.22 per diluted share, as compared to net income of $897,000, or $0.07 per diluted share in the second quarter of fiscal 2010.

Thomas Reinckens, Chairman and Chief Executive Officer, commented: “We are pleased to report better-than-expected second quarter results continuing our favorable momentum from the first quarter. We believe our strong performance validates the success of the design, merchandising and sourcing process changes implemented last year and the focused execution of our team. This led to a 6% increase in comparable store sales following a 5% comparable store sales increase in last year’s second quarter and a threefold increase in diluted earnings per share. Our comparable store sales increase was fueled by regular price selling, as we presented distinctive collections that resonated with our core customers and attracted new consumers to our brand. We ended the quarter with a strong balance sheet with $27 million in cash and marketable securities, with inventory below the prior year.”

“As we look ahead, we are optimistic about our ability to continue our positive performance,” Mr. Reinckens continued. “We see additional opportunity to further increase sales and margins, and utilize our improved tools to create stronger selling assortments. We also expect to benefit from increased conversion rates by optimizing customer service levels and our in-stock position. In total, we continue to expect fiscal 2011 to represent a strong year for Cache and deliver increased value for our stakeholders.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs