cache inc (CACH) Key Developments
Arnold Cohen Resigns as Executive Vice President, Chief Marketing Officer of Cache Inc, Effective January 2, 2015
Dec 16 14
On December 12, 2014, Cache Inc. accepted the resignation of Arnold Cohen from his position as Executive Vice President, Chief Marketing Officer of the Company, effective January 2, 2015.
Cache Seeks Sale
Dec 5 14
Cache Inc. (NasdaqGS:CACH) said it is considering an offer from a third party regarding a potential sale of the company.
Cache Considers A Strategic Review
Dec 3 14
Cache Inc. (NasdaqGS:CACH) is looking to explore and evaluate strategic alternatives including a possible merger, sale or other form of business combination. No set timetable for the strategic review process and no formal or binding offers have been made to date and the Company has not made a decision to pursue any specific transaction. Company does not intend to disclose or comment on further developments unless and until its Board of Directors approves a specific action or it otherwise concludes its review of strategic alternatives. Janney Montgomery Scott LLC has been appointed to explore the alternatives.
Cache Receives Non-Compliance Notice From NASDAQ
Nov 21 14
On November 17, 2014, Cache, Inc. was notified by the Nasdaq Stock Market that it is not in compliance with the continued listing requirements for the Nasdaq Global Select Market contained in Nasdaq Listing Rule 5450(b)(1)(A) requiring the Company maintain a minimum of $10,000,000 in stockholders’ equity. The notification letter does not impact the Company’s listing on the Nasdaq Global Select Market at this time. Pursuant to Nasdaq Listing Rules, the Company has 45 calendar days, or until January 2, 2015, to submit a plan to regain compliance with Nasdaq Listing Rule 5450(b)(1)(A). In the event the Company submits a plan to regain compliance, the Company may be eligible for an additional 180-day grace period to regain compliance. The Company intends to consider all available options to regain compliance with the Nasdaq’s continued listing requirements.
Cache Inc. Provides Earnings Guidance for Fiscal 2015
Nov 10 14
Cache Inc. provided earnings guidance for fiscal 2015. The company announced as a continuation of real estate optimization strategy, the company plans to accelerate the closing of unproductive locations, the majority of which are expected to close in the first quarter of fiscal 2015. The company expects the closings of unproductive locations to translate into an increase of approximately $0.10 in earnings per share for fiscal 2015, a $0.12 EPS for an annualized basis given the number of shares outstanding as of September 27, 2014.