Separately, Cache announced preliminary unaudited results for the 13-week period ended December 29, 2012:
For the fourth quarter of 2012, the 13-week period ended December 29, 2012:
- Net sales are expected to decrease 3.3% to 60.8 million, compared to $62.9 million in the fourth quarter of 2011;
- Comparable store sales are expected to decline 0.7%, compared to the 12.4% increase in the fourth quarter of 2011; and
- Pre-tax loss is currently expected in the range $4.8 - $5.1 million, compared to pretax income of $2.4 million in the fourth quarter of 2011.
- Inventory at year end is expected to decline modestly from the prior year end; and
- Cash and marketable securities at year end are expected to decline to approximately $18 million from $26.5 million at the prior year end.
The foregoing results are preliminary in nature and remain subject to finalization. Actual results may differ, and any such difference could be material.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The Rights Offering will be made only by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of sophisticated sportswear and social occasion dresses targeting style-conscious women who have a youthful attitude and are self-confident. The Company currently operates 261 stores, primarily situated in central locations in high traffic, upscale malls in 42 states, the Virgin Islands and Puerto Rico.