Wednesday Afternoon Earnings Roundup
Springfield, Mo., • O’Reilly Automotive recorded a net income of $42.9 million in the second quarter, up 27.3% from the same quarter a year ago. Product sales increased 19.8% to $521.2 million, supported by same-store sales growth of 9.6%.
• Guitar Center Inc. posted a consolidated net income growth of 6.3% to $12.9 million in the second quarter. Consolidated net sales increased 18.5% to $402.3 million on comps growth of 7%.
• Cache Inc. posted a net income of $3 million for its second quarter, down nearly one-third from its year-ago net income of $4.4 million. However, net sales increased 7.9% to $67 million on same-store sales growth of 5%.
Cache also said that it plans to open 25 new stores in its 2005 fiscal year. The retailer opened four locations in the second quarter, bringing its total store openings for the year to date to nine.