USA: Cache Reports Second Quarter 2000 Operating Results
Cache Inc, (NASDAQ:CACH), a specialty chain of women's apparel stores with 208 stores (184 Cache stores and 24 Lillie Rubin stores and online at the company's www.cache.com website), reported results for the twenty-six and thirteen week periods ended July 1, 2000. Net income for the twenty-six week period, decreased from $2,211,000, or $.24 per share in Fiscal 1999 to $1,301,000, or $.14 per share in fiscal 2000. Net income for the quarter decreased from $1,459,000, or $.16 per share in fiscal 1999, to $974,000, or $.11 per share in fiscal 2000. Net sales increased $8,224,000 or 10.7 per cent, and $3,796,000 or 9.5 per cent, respectively, during the twenty-six and thirteen week periods ended July 1, 2000, versus the comparable periods in fiscal 1999. Same store sales increased 2.1 per cent, as compared to the comparable twenty-six week period in 1999 and increased 1.4 per cent over the thirteen week period in Fiscal 1999. The company also announced that it had opened seven new Lillie Rubin stores and two new Cache stores in the first half of fiscal 2000. The company expects to open at least one new Lillie Rubin and 6 to 7 new Cache stores in the second half of Fiscal 2000. This would increase the company's total store count to approximately 215 stores by year end.
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