Women'S Clothing Retailer Cache Filed For Bankruptcy Protection

Having 40 years of history.

Retailer Cache Inc applied to the court on Wednesday.

It became the fifth bankruptcy filing in the United States in the past three months.

Retailer.

The company said in its bankruptcy application that Salus Capital Partners LLC has committed to provide up to 22 million US dollars in bankruptcy protection financing.

Cache's current assets range from 10 million to 50 million dollars, with liabilities ranging from $50 million to $100 million.

The company has 218 stores and about 2652 employees, and has suffered nine consecutive quarterly losses.

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Michael Kors Holdings Ltd. (NYSE:KORS) fell more than 12% before the US stock market yesterday, due to its accelerated cooling in the third quarter.

In the holiday season as of December 27, 2014, the overall sales growth of Michael Kors Holdings Ltd. and its largest market in North America were down to the single digit for the first time since its listing in 2011, and recorded only 8.6% and 6% growth respectively. Even after excluding the appreciation of the US dollar, the growth rate was only 10.9% and 6.8%, respectively. The two most valued data were significantly lower than those of 16.4% and 10.8% in the two quarter.

Market growth in North American same store sales is expected to be 9.3%.

The trend of growth slowed to the second largest market in Europe. The growth rate of local stores before and after the exchange rate was 21.2% and 29.9% respectively, much lower than the 41.1% in the two quarter.

Japan's same store sales increased by 35.4%, excluding the impact of the exchange rate increased by 54.4%, slightly higher than the two quarter of 52.9%.

In view of this trend, the group once again lowered its annual sales expectations for the same store after the two quarter, further down to the low 10+% growth from the first 10+% growth.

From the sales point of view, North American income rose 22.6% to 1 billion 100 million dollars compared to the same period, Europe rose 72.1% to 241 million 400 thousand US dollars, Japan increased 72.1% to 16 million 30 thousand US dollars.

Excluding the impact of exchange rate, the growth rates of the three markets were 23.1%, 86.3% and 96.3% respectively.

Retail revenue is mainly driven by the sales of 114 new stores, and the online sales website of the United States is pushing up e-commerce by 73%, an increase of 37% to 689 million US dollars from 503 million US dollars in the same period last year.

Wholesale income increased by 24.4% to $573 million 800 thousand, and authorized revenue increased by 8.6% to $51 million 500 thousand.

The total revenue amounted to $1 billion 310 million, which was in line with market expectations, up 29.9% from the US $1 billion 10 million in the same period last year, and 32.6% after the exchange rate.

Gross profit in the three quarter rose 29.2% to 800 million 100 thousand US dollars compared with the same period last year, but gross margin was dragged down by a big discount, but it fell 30 basis points, from 61.2% in the 2014 fiscal year to 60.9%.

According to the observation of Credit Suisse Group AG UBS analyst Christian Buss, the discount rate of the brand on its website in December was as high as 65%. In contrast, its main competitors Coach Inc. (NYSE:COH) Coach and Kate Spade (x) reduced the intensity of discount sales.

Operating profit was $418 million 500 thousand, an increase of 21.9% over the same period last year, and the operating profit margin shrank by 210 basis points to 31.8%.

Net profit increased by 32.3% to $303 million 700 thousand per annualized year, and the diluted earnings per share rose to 1.48 US dollars from 1.11 US dollars in the same period last year, and the market expected US $1.33.

The growth rate of the three profit indicators narrowed compared with the two quarter.

The Group expects that the current fourth quarter revenue will be in the 10.5-10.8 billion, while the same store sales growth will have a median figure and a high digit growth rate before and after the exchange rate impact. Earnings per share are between 0.89-0.92 US dollars, less than the market forecast of 0.94 US dollars.

The annual revenue target has been raised to $4 billion 400 million from the expected 43-44 billion US dollars, and the earnings per share target has also increased to 4.27-4.30 dollars, after which it was expected to be 4.13-4.18 dollars.

By the end of the three quarter, the group had 509 direct retail outlets and 194 authorized partners.

During the period, the group spent $399 million 900 thousand to buy about 5 million 100 thousand shares of Michael Kors Holdings Ltd. (NYSE:KORS) shares.

At the time when the Chinese version was not released, the Michael Kors Holdings Ltd. (NYSE:KORS) fell narrowed to 7.17%, which was $66.26, and the stock closed at $71.38 on Wednesday, down 1.16%.