Cache Inc a specialty chain of women's apparel stores with 294 stores currently open, reported July 2007 sales figures.
Comparable store sales (sales for stores open at least one year or more) increased 6% during the 4-week July 2007 period compared to an increase of 2% in the prior-year period.
Total net sales for the 4-week period ended July 28, 2007 increased $0.5 million or 3% to $16.5 million. Revenue for the 4-week fiscal 2006 period included $1.1 million in sales from the former Lillie Rubin chain.
For the 30-week period ended July 28, 2007, comparable store sales increased 2%, as compared to an increase of 5% in the same period last year.
Total net sales for the 30-week fiscal 2007 period increased $0.3 million or 0.2% to $151.8 million. Revenue for the 30-week fiscal 2006 period included $10.7 million in sales from the former Lillie Rubin chain.
Mr. Brian Woolf, Cache's Chairman and Chief Executive Officer commented: “Our July comparable store sales increase of 6% reflected continued positive sales trends throughout the month, which accelerated in the final week of July."
"We believe our catalog also assisted us in increasing store traffic and driving sales. We continue to remain cautiously optimistic and believe the Company is positioned for improved performance.”
The Company announced that its Board of Directors has approved a new stock repurchase program. This new program authorizes the Company torepurchase up to 1 million shares, currently 6% of its common stock outstanding, through the open market or in privately negotiated transactions, in accordance with SEC requirements.
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