US: Cache marketing boosts Q4 profit 21.5%
Upmarket ladies' wear retailer Cache has boosted its fourth-quarter profit 21.5%, as a result of marketing efforts and good demand.
Quarterly net income totalled US$7.5m compared to profit of $6.2m in the same period last year.
Revenue for the same period was $79.3m compared to $78.6m a year ago, marking a slight increase of 0.9% and a same-store rise of 4%.
Cache chairman and chief executive Brian Woolf said: "Our ability to connect with our customers through enticing assortments and innovative marketing led to the strong fourth quarter results we reported today."
The company predicts financial 2006 net sales of $278m-$284m compared to sales of $266.4m in 2005.
Financial 2006 diluted earnings per share are currently estimated in the range of $1.00 to $1.02 compared to $0.83 in financial 2005.
Woolf added: "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."
Cache plans to open between 15 and 20 new stores in financial 2006, bringing its total store chain to 320 locations.
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