Cache currently operates 298 units, and executives plan to have a total of 315 stores by year-end. Between openings and remodels, they sale capital expenditures will fall from $15 million to $16 million this year.
During the quarter the chain opened four new units and remodeled seven, making 53% of all stores in the chain newly renovated. Among the openings was the company's third street-front store (most Caches are in malls), in St. Thomas in the US Virgin Islands. "We expect to grow this channel of distribution further," said Brian Woolf, Cache's chairman during the company's Q2 conference call.
So far this year 62% of all sales have been sportswear, Woolf said, and he expects that number to increase to 70% by year-end. Executives are also predicting mid-single digit same-store sales increases for the fiscal year.
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