Cache Inc, a specialty chain of women's apparel stores with 301 stores open, reported July 2006 sales figures.
As previously announced, the company plans to exit its Lillie Rubin business by the end of September 2006. Therefore, the company's comparable store sales results only include its 272 Cache stores.
Comparable store sales for Cache stores increased 2% during the four week July 2006 period compared to an increase of 10% in the prior year period. Total sales for the four week period ended July 29, 2006 increased $0.5 million or 3% to $16.0 million.
Comparable store sales increased 5% during the 30 week period ended July 29, 2006, as compared to the same period in 2005. Total sales for the 30 week period ended July 29, 2006 increased $6.2 million or 4% to $151.5 million.
Brian Woolf, Cache's Chairman said: "We were pleased with our July comparable store sales increase of 2%, especially given that clearance inventory levels were well below last year. As we look ahead, we have shifted a promotional event out of August to prepare for our intensified advertising efforts that begin in September. As a result, we expect to report August comparable store sales similar to July with more robust growth expected in the fall and holiday periods."
The company also noted that it closed 8 Lillie Rubin stores in July. It currently operates 272 Cache and 29 Lillie Rubin locations.
Cache Inc is a nationwide, mall-based specialty retailer of sophisticated, social occasion sportswear and dresses targeting style-conscious women. It targets women between the ages of 25 and 45 who have a youthful attitude, are self-confident and fashion-conscious, and require a missy fit.
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