Cache Inc, a specialty chain of women's apparel stores with 294 stores currently open, reported results for the thirteen and twenty-six week periods ended June 30, 2007.
For the 13 week period ended June 30, 2007:
• Net sales were $71.0 million, basically even with the second quarter of fiscal 2006. The second quarter of fiscal 2006 included $4.6 million in sales for the former Lillie Rubin business. Comparable store sales increased 1%;
• Operating income was $1.3 million, as compared to $2.1 million in the second quarter of fiscal 2006. Operating income for the second quarter of fiscal 2007 includes legal settlement costs of $1.0 million. Second quarter fiscal 2006 operating income included $5.7 million in exit costs for the Lillie Rubin business and $1.3 million in Lillie Rubin business operating losses;
• Net income was $1.3 million, or $0.08 per diluted share including $0.04 per diluted share in legal settlement costs. This compares to net income in the fiscal 2006 period of $1.7 million, or $0.10 per diluted share, which includes $0.21 per diluted share in Lillie Rubin business exit costs and $0.05 per diluted share in Lillie Rubin business losses.
For the 26 week period ended June 30, 2007:
• Net sales were $135.4 million, basically even with the first half of fiscal 2006. The first half of fiscal 2006 included $9.5 million in sales from the former Lillie Rubin business. Comparable store sales increased 1%.
marketing@alchempro.com
