CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
A S S E T S
December 27, January 1,
2003 2005
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CURRENT ASSETS
Cash and equivalents $ 16,887,000 $ 16,848,000
Marketable securities 19,746,000 25,874,000
Receivables, net 4,614,000 6,545,000
Inventories 26,724,000 32,296,000
Deferred income taxes and other tax assets 936,000 567,000
Prepaid expenses 1,239,000 1,851,000
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Total Current Assets 70,146,000 83,981,000
EQUIPMENT AND LEASEHOLD IMPROVEMENTS, net 33,048,000 47,118,000
OTHER ASSETS 873,000 832,000
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Total Assets $ 104,067,000 $ 131,931,000
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 14,362,000 $ 17,055,000
Accrued compensation 4,675,000 1,927,000
Accrued liabilities 10,075,000 11,627,000
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Total Current Liabilities 29,112,000 30,609,000
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OTHER LIABILITIES 9,126,000 13,556,000
DEFERRED INCOME TAXES, net 687,000 2,926,000
STOCKHOLDERS' EQUITY
Common stock 100,000 157,000
Additional paid-in capital 28,361,000 34,705,000
Retained earnings 36,681,000 49,978,000
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Total Stockholders' Equity 65,142,000 84,840,000
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Total Liabilities and Stockholders' Equity $ 104,067,000 $ 131,931,000
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CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
52 Weeks Ended 53 Weeks Ended
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DECEMBER 27, JANUARY 1,
2003 2005
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NET SALES $ 216,256,000 $ 247,300,000
COST OF SALES, including buying and occupancy 120,731,000 135,745,000
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GROSS PROFIT 95,525,000 111,555,000
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EXPENSES
Store operating expenses 63,546,000 76,466,000
General and administrative expenses 14,074,000 14,221,000
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TOTAL EXPENSES 77,620,000 90,687,000
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OPERATING INCOME 17,905,000 20,868,000
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OTHER INCOME (EXPENSE)
Interest income 259,000 439,000
Miscellaneous income (net) 14,000 20,000
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TOTAL OTHER INCOME 273,000 459,000
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INCOME BEFORE INCOME TAXES 18,178,000 21,327,000
INCOME TAX PROVISION 7,089,000 8,030,000
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NET INCOME $ 11,089,000 $ 13,297,000
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BASIC EARNINGS PER SHARE $0.78 $0.85
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DILUTED EARNINGS PER SHARE $0.75 $0.83
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BASIC WEIGHTED AVERAGE SHARES OUTSTANDING 14,256,000 15,589,000
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DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 14,721,000 16,004,000
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NUMBER OF STORES OPEN AT END OF PERIOD 255 291
CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
13 Weeks Ended 14 Weeks Ended
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DECEMBER 27, JANUARY 1,
2003 2005
-------------------- -------------------
NET SALES $ 64,622,000 $ 78,589,000
COST OF SALES, including buying and occupancy 34,270,000 41,467,000
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GROSS PROFIT 30,352,000 37,122,000
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EXPENSES
Store operating expenses 17,462,000 22,842,000
General and administrative expenses 4,169,000 4,704,000
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TOTAL EXPENSES 21,631,000 27,546,000
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OPERATING INCOME 8,721,000 9,576,000
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OTHER INCOME (EXPENSE)
Interest income 67,000 130,000
Miscellaneous income (net) 0 0
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TOTAL OTHER INCOME 67,000 130,000
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INCOME BEFORE INCOME TAXES 8,788,000 9,706,000
INCOME TAX PROVISION 3,495,000 3,498,000
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NET INCOME $ 5,293,000 $ 6,208,000
==================== ==================
BASIC EARNINGS PER SHARE $0.35 $0.40
==================== ==================
DILUTED EARNINGS PER SHARE $0.34 $0.39
==================== ==================
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING 14,955,000 15,645,000
==================== ==================
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 15,470,000 16,060,000
==================== ==================
NUMBER OF STORES OPEN AT END OF PERIOD 255 291