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 Fourth Quarter And Fiscal 2012 Results

Cache, Inc., (NASDAQ: CACH), the specialty chain of women’s apparel stores, reported results for the thirteen (“fourth quarter”) and fifty-two week (“fiscal 2012”) periods ended December 29, 2012.

For the 13-week period ended December 29, 2012:

  • Net sales decreased 3.3% to $60.8 million from $62.9 million in the fourth quarter of fiscal 2011. Comparable store sales decreased 0.7%, compared to an increase of 12.4% in the fourth quarter of fiscal 2011.
  • Operating loss totaled $5.0 million, inclusive of $1.1 million in non-cash asset impairment charges. This compares to operating income of $2.4 million in the fourth quarter of 2011, inclusive of $719,000 in non-cash asset impairment charges partially offset by a $345,000 benefit from a gain on note payable settlement.
  • Net loss totaled $5.5 million, or $0.41 per diluted share, which included the following costs: (i) a $2.5 million or, $0.18 per diluted share, tax valuation allowance charge; and (ii) a $682,000, or $0.05 per diluted share, non-cash asset impairment charge. This compares to net income of $1.9 million, or $0.14 per diluted share, in the prior year period, which included the following benefits and costs: (i) a $562,000, or $0.04 per diluted share, benefit from the reversal of the tax valuation allowance against net deferred tax assets; (ii) a $396,000, or $0.03 per diluted share, non-cash store impairment charge; and (iii) a $190,000, or $0.02 per diluted share, benefit from a gain on note payable settlement.
  • Adjusted net loss, which excludes the costs and benefits referenced above, was $2.4 million, or $0.18 per diluted share, as compared to adjusted net income of $1.5 million, or $0.11 per diluted share, in the fourth quarter of fiscal 2011. (See the table on page 3 for a reconciliation of net income (loss) to adjusted net income (loss).)

Jay Margolis, Chairman and Chief Executive Officer, commented: “Fiscal 2012 was a challenging year for Cache, yet we also saw progress in key areas that we believe allow us to begin fiscal 2013 with a solid foundation. To this end, we doubled our e-commerce sales in this high growth channel, optimized our stores through the closing of underperforming locations to end the year with a strong ongoing store base and continued to be a top destination for event dresses. My priorities in my first year as Chairman and CEO are focused on implementing the processes and strategies to allow our Company to deliver consistent and cohesive apparel and accessories assortments, to enhance and continue to grow our e-commerce business and capitalize more fully on our event dressing opportunity. I am fortunate to have joined an organization that possesses incredible talent and a passion for moving our business forward. I am even more excited today about the opportunities that exist to position Cache for long term profitable growth since joining the Company in February and remain confident in our ability to achieve this goal.”

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,056.25 -175.77 -0.96%
S&P 500 2,107.75 -18.31 -0.86%
NASDAQ 5,036.65 -52.7120 -1.04%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs