Boston, MA 08/12/2014 (wallstreetpr) – The U.S. located mall and web-based specialty retailer, Cache, Inc. (NASDAQ:CACH) revealed the 2Q and six-month result today that ended on June 28, 2014.
Highlights of 2Q:
The highlights of 2Q result (13-week period) and six-month (twenty-six week periods) were quite depressing, as Cache, Inc. (NASDAQ:CACH) reported that the net sale went down to $54.1 million in 2014 compared to $60.1 million in 2013 similar period. Also, the comparable store sales were reduced by 8.8%. In fact, the operating losses surged to $7.7 million, including $275,000 for employee separation charges. In 2Q2013, the operating losses were measured as $1.6 million, despite $956,000 from employee separation charges.
Net loss in second quarter:
The net loss incurred by Cache totaled to $7.9 million or $0.33 per diluted share. However, in 2013 second quarter fiscal year, the net loss witnessed by the company was $1.6 million or $0.09 per diluted shares.
Highlights of six-month:
The figures for six-month period were also dissatisfying for the specialty retailer of women’s apparel and accessories company. The net sales for twenty-six week’s period dropped to $101.5 million in 2014 from $113.6 million in 2013. Eventually, the comparable store sales also slipped down 8.9%. The operating losses developed in the six-month period were $18.3 million, which includes $409,000 from employee separation charges. The last year’s figure for operating loss was $9.3 million including $2.5 million from employee separation charges.
Net loss in 26-week phase:
Cache, Inc. (NASDAQ:CACH) posted a net loss of $18.7 million or $0.83 per diluted shares. In comparison, a year back the net loss incurred was $19.4 million or $1.23 per diluted shares.
Gross profit in 2Q and six-month period:
The gross profit for the 2Q of 2014 was $17.1 million or 31.6% of net sales. However, in 2013’s second quarter the gross profit was $22.4 million or 37.3% of net sales. Similarly, the gross profit for the six-month period dropped from $39.4 million in 2013 to $30.0 million in 2014.
