Key Developments: Cache Inc (CACH.O)
3.81USD
24 May 2013
$-0.09 (-2.31%)
$3.90
$3.84
$3.84
$3.63
61,124
106,998
$4.05
$1.59
Latest Key Developments (Source: Significant Developments)
Cache Inc Announces Expiration Of Rights Offering
Cache Inc announced the expiration of the subscription period for its previously announced $8.0 million rights offering. The subscription period for the rights offering expired on April 25, 2013. Preliminary results indicate that basic subscription rights to purchase approximately 4,623,761 shares of common stock were exercised, including the exercise in full by each of MFP Partners, L.P. and Mill Road Capital, L.P. of their full basic subscription rights. The rights offering together with the transactions contemplated by the Investment Agreement entered into with MFP Partners, L.P., Mill Road Capital, L.P. and Jay Margolis (the Backstop and Investment Agreement), both of which are expected to close on May 1, 2013, will result in gross proceeds to Cache of approximately $13 million. Cache will not issue any shares pursuant to the exercise of oversubscription rights in connection with the rights offering. Any excess subscription payments received by the subscription agent will be returned, without interest, as soon as practicable. Full Article
Cache Inc Announces Commencement Of Rights Offering
Cache Inc announced that it has commenced previously announced $8.0 million rights offering. At a special meeting held earlier, Cache's shareholders approved the issuance of shares of common stock in the rights offering and under the Investment Agreement entered into with MFP Partners, L.P., Mill Road Capital, L.P. and Jay Margolis. Under the terms of the rights offering, Cache is distributing, at no charge to the holders of record of common stock as of 5:00 p.m., New York City time, on the record date for the rights offering of April 4, 2013, approximately 0.359 transferable subscription rights for each share of common stock owned on the record date, as more fully described in the prospectus relating to the rights offering. Each whole subscription right will entitle the holder to purchase one share of common stock, at a subscription price of $1.65 per share. Full Article
Cache Inc Announces Management Changes
Cache Inc announced that Board of Directors appointed Jay Margolis as Chairman and Chief Executive Officer of Cache. Concurrent with this appointment, Thomas Reinckens will step down as Chairman of the Board and Chief Executive Officer of Cache. Full Article
Cache Inc Comments On Q4 2012 Comparable Store Sales Guidance; Issues Q4 2012 EPS Guidance Above Analysts' Estimates
Cache Inc announced that for fourth quarter of 2012, it expects comparable store sales to be flat or to increase in the low-to-mid single-digit range. This follows a 12.4% increase in comparable store sales in the fourth quarter of fiscal 2011. The Company expects fourth quarter 2012 net earnings per diluted share (EPS) in the range of $0.01 to $0.03, exclusive of any potential asset impairment costs and potential tax valuation allowance. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of breakeven for fourth quarter of 2012. Full Article
Cache Inc Issues Q3 2012 Revenue Guidance; Lowers Q3 2012 EPS Guidance; Lowers Q3 2012 Comparable Store Sales Guidance
Cache Inc announced that for third quarter of 2012, it expects Net sales to be approximately $45.8 million, Net loss per share in the range of $0.39 to $0.41. Comparable store sales declined approximately 3% following a comparable store sales increase of 5.7% in the third quarter of fiscal 2011. Full Article
Cache Inc Issues Q3 2012 EPS Guidance Below Analysts' Estimates; Comments On Q3 2012 Comparable Same Store Sales Guidance
Cache Inc announced that for third quarter of 2012, it expects comparable store sales to increase in the low to mid single digit range, following an increase of 5.7% in the third quarter of fiscal 2011. The Company currently expects third quarter 2012 net loss per diluted share (EPS) in the range of $0.22 to $0.25. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $(0.11) for third quarter of 2012. Full Article
Cache, Inc. Issues Q2 2012 EPS Guidance Below Analysts' Estimates; Comments On Q2 2012 Comparable Store Sales
Cache, Inc. announced that for the second quarter of fiscal 2012, the Company expects comparable store sales to increase in the low- to mid-single digit range following a 6.0% increase in the second quarter of fiscal 2011. The Company currently expects second quarter fiscal 2012 net income of $0.19 to $0.22 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.25 for the second quarter of 2012. Full Article
Cache, Inc. Issues FY 2012 Guidance; Comments On Q1 2012 Comparable Store Sales
Cache, Inc. announced that for the first quarter of 2012, it expects comparable store sales to increase in the high-single digit range, net loss is expected to approximate $0.09 per share. Full Article
Cache, Inc. Reaffirms Q4 2011 EPS Guidance; Comments On Q4 2011 Comparable Store Sales
Cache, Inc. announced that for the fourth quarter of 2011, it expects comparable store sales to increase in the low double-digit range. The Company continues to expect fourth quarter fiscal 2011 net earnings per diluted share (EPS) in the range of $0.24 to $0.30, exclusive of any potential asset impairment costs. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.24 for fourth quarter of 2011. Full Article
Cache, Inc. Issues Q3 2011 EPS Guidance Above Analysts' Estimates; Issues H2 2011 EPS Guidance; Comments On H2, Q3, Q4 2011 Comparable Store Sales Guidance
Cache, Inc. announced that for the second half of 2011, the Company currently expects comparable store sales to increase in the mid-to-high single digit range. The Company currently expects to report second half net income per diluted share in the range of $0.18 to $0.22, inclusive of $1.04 in charges, relating to non-cash impairment of fixed assets and intangible assets, a non-cash valuation allowance against deferred tax assets, as well as one-time legal costs. For the third quarter of 2011, the Company currently expects comparable store sales to increase in the mid single digit range. The Company currently expects third quarter of 2011 net loss per diluted share in the range of $0.06 to $0.08. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $(0.12) for third quarter of 2011; EPS of $0.15 for fourth quarter of 2011. Full Article
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