Having closed its Lillie Rubin business in 2006, the company is focused on growing sales at Cache. The company plans to open 15 to 20 Cache stores this year, ending the year with approximately 310 units. Luxe, which it introduced in 2006, is still in the experimental stage.
"We think Luxe is an opportunity. It's going to be a learning curve for us," said Brian Woolf, chairman and CEO. "The main thrust of our focus is to drive comp-store increases at the Cache brand."
That "definitely" will change in 2008, when the company looks to grow beyond the existing 16 Cache Luxe units and three additional stores open adjacent to Cache stores, he added.
For the 13-week period ended Dec. 30, net sales were $83.6 million, up 5.4% from the previous year. Comparable store sales rose 6%. Net income totaled $4.6 million, compared with earnings of $7.5 million the previous year.
For the year ended Dec. 30, net sales were $279 million, up 4.8% from the previous year. Comparable store sales rose 6%. Net income was $8.6 million, compared with earnings of $13.4 million last year.
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