Net sales during the quarter increased 15.8%, to $57.3 million,while net income rose to just over $1.1 million, up from $521,000in last year's Q3. For the first nine months, same-store sales rose5%, and net sales jumped 10.9%, to $189 million.

Cache opened five new stores during the quarter, bring thechain's total to 391 units. Since last year's third quarter, theretailer has opened 25 stores, including 14 so far this year.Executives say they plan to open 22 to 25 new stores next year. Sixstores were remodeled over the most recent quarter, making 56% ofthe portfolio newly remodeled.

Through yesterday 28 of the company's 46 stores were closed dueto damage and power outages from Hurricane Wilma. There is no settimeline for when they will open, says Brian Woolf, Cache'schairman. "We're all going to wait and see on a day-to-day basis,"he said.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.