CACHE PROFITS INCREASE 51.2%
NEW YORK — Cache Inc., the 161-unit better-to-bridge-priced women’s specialty chain, said Wednesday that fourth-quarter earnings jumped 51.2 percent to $1.9 million, or 21 cents a share.
In the year-ago period, the company earned $1.3 million, or 14 cents a share.
Sales for the three months ended Dec. 28 rose 6.6 percent to $39 million from $36.6 million
Thomas E. Reinckens, executive vice president and chief financial officer, attributed the strong results to a “refined merchandise mix with improved sportswear.” He also noted that the fourth quarter saw more full-price sales.
For the year, earnings inched up 2.8 percent to $2 million, or 22 cents a share, from $1.9 million, or 21 cents a share.
Sales gained 7 percent to $129 million from $120.6 million.