Fiscal year gross profit rose by 8.8 percent to $121.4 million, or 45.6 percent of net sales, compared to $111.6 million, or 45.1 percent of net sales, in fiscal 2004.
The company estimates fiscal 2006 net sales in the range of $278 million to $284 million compared to actual net sales of $266.4 million in fiscal 2005.
Woolf continued, "As we begin fiscal 2006, we remain confident and enthusiastic regarding our growth. Consumers have responded well to our spring assortments and the new initiatives we have in place should enable us to take our business to the next level. To drive sales we will continue our store expansion, build a true customer loyalty program on a national level and expand our marketing efforts. We also expect our gross margins to benefit from sourcing initiatives. We expect fiscal 2006 to represent a year of significant accomplishments for Cache."
The company also noted that it has plans to open between 15 and 20 new stores in fiscal 2006. It plans to end the year with approximately 320 locations, increasing square footage by approx. 5 percent to approximately 645,000 square feet. It also indicated that it expects to open approx. 10 stores during the first half of the year.
The company closed 5 stores in January 2006, as part of its ongoing efforts to enhance store productivity.
Cache Inc 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. Lillie Rubin stores offer a more sophisticated line of social occasion apparel targeting women between the ages of 35 and 55.
marketing@alchempro.com
