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Cache Reports Third Quarter Fiscal 2012 Results

At September 29, 2012, cash and marketable securities totaled $16.4 million, compared to $24.4 million in cash and marketable securities at October 1, 2011. Total inventory at cost increased 7.1% at September 29, 2012, as compared to the prior year period.

A table summarizing financial results follows:

   

Thirty-Nine Weeks Ended

   

Thirteen Weeks Ended

Sept. 29,     Oct. 1, Sept. 29,     Oct. 1,

2012

2011

2012

2011

($ thousands, except for per share data, share numbers and store count)

 
Net sales $ 163,417 $ 161,024 $ 45,789 $ 48,659
Operating loss (8,455 ) (143 ) (8,109 ) (3,042 )
Net income (loss) $ (6,553 ) $ 205 $ (6,376 ) $ (1,822 )
 
Basic earnings (loss) per share $ (0.51 ) $ 0.02 $ (0.49 ) $ (0.14 )
Diluted earnings (loss) per share $ (0.51 ) $ 0.02 $ (0.49 ) $ (0.14 )
 
Per share – Tax valuation allowance $ (0.10 ) $ -- $ (0.10 ) $ --
 
Diluted earnings (loss) per share
Excluding – Tax valuation allowance $ (0.41 ) $ 0.02 $ (0.39 ) $ (0.14 )
 
 
Basic weighted average shares
outstanding 12,882,000 12,831,000 12,892,000 12,849,000
 
Diluted weighted average shares
outstanding 12,882,000 12,859,000 12,892,000 12,849,000
 
Number of stores open, at end of period 262 279 262 279
 

Store Information

During the third quarter, the Company closed two locations, ending the period with 262 stores in operation. For fiscal 2012, the Company expects to open no new additional stores and since September 29, 2012 the Company has closed one additional location. Accordingly, the Company expects to end fiscal 2012 with approximately 261 locations and 525,000 square feet in operation.

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