Cache Inc. (NASDAQ:CACH) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Cache Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.51 in the quarter versus EPS of $-0.07 in the year-earlier quarter.
Revenue: Decreased 4.46% to $53.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cache Inc. reported adjusted EPS loss of $0.51 per share. By that measure, the company missed the mean analyst estimate of $-0.12. It missed the average revenue estimate of $54.02 million.
Quoting Management: Jay Margolis, Chairman and Chief Executive Officer, commented: “Our first quarter results reflect our actions to intensify markdown activity on prior season assortments, primarily in sportswear and to reduce promotions on the web. This activity held back our performance in the quarter, yet was an important step as we prepare to introduce our marketing and merchandising strategies that engage our consumer demographic with brand right trends. We began to see elements of our initiatives, including a positive reaction to new date tops, event dresses and day dresses in the first quarter and expect that the continuing development and evolution of our strategies will have a greater impact on our performance during the second half of the year.”
Key Stats (on next page)…