Cache raises 2nd-quarter guidance

The company now expects earnings of 14 cents to 15 cents per share, from a previous range of 12 cents to 14 cents per share. Analysts polled by Thomson Financial, on average, predict a profit of 14 cents per share.

For the third quarter, the company expects a profit of a penny to 2 cents per share, on revenue of $62 million to $64 million. Analysts polled by Thomson Financial expect third-quarter earnings of 4 cents per share on revenue of $61.6 million.

In the fourth quarter, the New York-based company expects a profit of 38 cents to 40 cents per share on revenue of $82 million to $84 million. Analysts predict a fourth-quarter profit of 40 cents per share on revenue of $79.4 million.

Cache expects same-store sales, or sales in stores open at least one year, in both the third and fourth quarters to increase in the low- to mid-single digit range.

For the full year, Cache expects a profit of 38 cents to 42 cents per share, or 52 cents to 56 cents per share excluding costs of 14 cents per share incurred in the first quarter due to closing stores and a management change.

It expects sales between $286 million and $290 million.

Analysts, who typically exclude one-time charges, expect a profit of 54 cents per share on revenue of $280.5 million.

Shares of Cache jumped $1.18, or 9.3 percent, to $13.86 in late trading. The stock ended the regular session up 89 cents, or 7.6 percent, to $12.68.