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Cache Keeps Solid Balance Sheet
Cache Inc. (CACH - Snapshot Report) reported third quarter results that were in-line with the company's lowered guidance from Sept 22. The company also said that its full-year 2008 guidance should come in at the low end of its previous expectations of sales of $278-$280 million and EPS of $0.28-$0.33.
We are leaving our fourth quarter estimates unchanged, but slightly lowering our 2009 estimates. Macro headwinds continue to pressure consumer spending, and in turn, Cache's sales trends remain weak.
Still, the company's balance sheet is solid, its inventories are lean and it continues to cut costs, all of which position the company for the eventual rebound for retailers. We maintain our Hold rating.
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| Market Summary | Nov 22, 2009 01:51 am ET |
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