UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 7, 2004
CACHE INC
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(Exact name of registrant as specified in its charter)
Florida 0-10345 59-1588181
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
Incorporation) Number)
1440 Broadway, New York, New York 10018
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(Address of principal executive offices)
Registrant's telephone number: (212) 575-3200
ITEM 5. OTHER EVENTS
See the attached press release, which is incorporated herein by reference,
regarding 2003 third quarter earnings, filed as Exhibit 99.1
ITEM 12. FINANCIAL STATEMENTS AND EXHIBITS
(1) Financial Statements of Businesses Acquired
None
(2) Pro Forma Financial Information
None
(3) Exhibits
99.1 Press release issued by Cache, Inc. on January 7, 2004
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: January 7, 2004 CACHE INC.
By: /s/ Brian Woolf
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Brian Woolf
On behalf of Cache, Inc. and in his capacity as
Chairman and Chief Executive Officer
(Principal Executive Officer)
By: /s/ Thomas E. Reinckens
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Thomas E. Reinckens
On behalf of Cache, Inc. and in his capacity as
President and Chief Operating Officer
(Principal Financial and Accounting Officer)
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INDEX OF EXHIBITS
Exhibit Description Page
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99.1 Press Release issued by Cache Inc 5
on January 7, 2004
<page>
JANUARY 7, 2004
CACHE, INC.
NASDAQ COMMON STOCK SYMBOL CACH
CACHE REPORTS DECEMBER 2003 COMPARABLE STORE SALES
--Company Increases its Guidance Range for Fiscal 2003 Diluted Earnings Per
Share to $1.07 - $1.09 from $1.06 - $1.08
New York, New York - January 7, 2004 - Cache Inc., (NASDAQ: CACH), a
specialty chain of women's apparel stores with 255 stores, reported December
2003 sales figures.
* Comparable store sales - sales for stores open at least one year or
more:
* Increased 3% during the five-week period from November 23, 2003 to
December 27, 2003, as compared to the same period in 2002 and
versus a comparable store sales gain of 11% in the prior year
period;
* Consistent with the retail industry calendar, which included the
five-week period from November 30 to January 2, 2004, comparable
store sales increased 6% as compared to the same period in 2002;
* Increased 4% during the thirteen-week period ended December 27,
2003, as compared to the same period in 2002;
* Increased 3% during the fifty-two week period ended December 27,
2003, as compared to the same period in 2002.
* Total sales:
* For the five-week period ended December 27, 2003, sales were $31.3
million, an increase of 9%, as compared to $28.7 million for the
same period in 2002;
* For the thirteen-week period ended December 27, 2003, sales were
$64.6 million, an increase of 10%, as compared to $58.5 million
for the same period in 2002;
* For the fifty-two week period ended December 27, 2003, sales were
$215.6 million, an increase of 8%, as compared to $199.4 million
for the same period in 2002.
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Mr. Brian Woolf, Cache's Chairman commented: "We were pleased with our
December comparable store sales performance, especially given the tough
comparison we faced during the same period last year and the substantial
increase in sales of gift certificates in December, which are not recorded as
sales until redeemed. Our performance was in line with our expectation for
sales with margins slightly better than expected. As such, we currently expect
fourth quarter earnings to be within or slightly above our previous guidance of
$0.46 - $0.48 per share. In addition, we have expanded our Fiscal 2003
guidance range to $1.07 - $1.09 from $1.06 - $1.08. While still early in
January, we are pleased with the start of Fiscal 2004, which included strong
sales increases in both concept stores and across our merchandise
categories."
Cache opened twenty-two new Cache stores and two Lillie Rubin stores during
Fiscal 2003. The Company plans to open approximately thirty-five new Cache
stores and ten new Lillie Rubin stores in Fiscal 2004. The Company also noted
that it expects to release fourth quarter and Fiscal 2003 results the morning
of February 4, 2004.
Certain matters discussed within this press release may constitute forward-
looking statements within the meaning of the federal securities laws. Although
Cache, Inc. believes the statements are based on reasonable assumptions, there
can be no assurance that these expectations will be attained. Actual results
and timing of certain events could differ materially from those projected in or
contemplated by the forward-looking statements due to a number of factors,
including, without limitation, industry trends, merchandise trends, competition
and the ability to obtain financing, as well as other risks outlined from time
to time in the filings of Cache, Inc. with the Securities and Exchange
Commission.
For further information contact Thomas E. Reinckens, President, Chief Operating
Officer, Cache, Inc., 1440 Broadway, New York, New York 10018, (212) 575-3246.