Originally published at www.seclive.com
Cache Inc. (NASDAQ:CACH) announced its financial results for the fourth quarter and full fiscal year 2013, posting sales that declined from last year. The specialty women's apparel chain reported a quarterly decline in net sales, from $60.8M to $55.8M with a 5.9% decrease in comparable-store sales. Net sales for the full year were $216.7M, down from $224.2M in 2012 with comparable-store sales decreasing 0.6%. The company sustained a quarterly loss of $4.8M and $0.23 per share, an improvement from the net loss of $5.5M and $0.43 per share in the year-ago quarter. Annually, the company widened its net loss from $12.1M and $0.94 per share last year to $34.4M and $1.87 per share. Key milestones accomplished during the year included Jay Margolis assuming the role of Chairman and CEO, which also resulted in revamped and refocused business goals, overall strategy, and a recruited executive team.
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