The Cato Corporation operates as a specialty retailer of fashion apparel and accessories in the Southeastern United States. The company operates in two segments, Retail and Credit. Its stores offer a range of apparel and accessories for women, including dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as dressy, career, and casual sportswear. Its stores also offer men’s wear, and lines for kids and newborns. The company operates its stores primarily under the Cato, Cato Fashions, Cato Plus, It’s Fashion, It’s Fashion Metro, and Versona Accessories names. As of August 3, 2013, the company operated 1,306 stores in 31 states. It also provides credit cards to its customers...
8100 Denmark Road
Charlotte, NC 28273-5975
Founded in 1946
The Cato Corporation Reports Sales Results for the Four Weeks and Ten Months Ended November 30, 2013
Dec 5 13
The Cato Corporation reported sales results for the four weeks and ten months ended November 30, 2013. For the four weeks, the company reported sales of $67.3 million, a 4% increase over sales of $64.9 million for the four week period ended November 24, 2012. Same-store sales for the month were flat to the prior year.
For the ten months, the company reported sales were $762.6 million, a 1% decrease from sales of $766.7 million for the ten months ended November 24, 2012. The company's year-to-date same-store sales decreased 3%.
The Cato Corporation Announces Regular Quarterly Dividend, Payable on January 2, 2014
Nov 27 13
The Board of Directors of The Cato Corporation declared a regular quarterly dividend of $0.05 per share. The dividend will be payable on January 2, 2014 to shareholders of record on December 16, 2013.
The Cato Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 2, 2013; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2013
Nov 21 13
The Cato Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended November 2, 2013. For the quarter, the company reported net income of $4.9 million compared to $4.7 million for the third quarter ended October 27, 2012, an increase of 5%. Earnings per diluted share were $0.17 compared to $0.16 last year, an increase of 5%. Sales for the third quarter ended November 2, 2013 were $198.8 million, a 1% increase over sales of $197.6 million for the third quarter ended October 27, 2012. Total revenues were $201,043,000 compared to $200,005,000 a year ago. Income before income taxes was $6,488,000 compared to $6,822,000 a year ago.
For the nine months ended November 2, 2013, the company earned net income of $50.5 million, compared to net income of $53.7 million for the nine months ended October 27, 2012, a decrease of 6%. Earnings per diluted share were $1.73 compared to $1.84 last year, a decrease of 6%. Sales for the nine months ended November 2, 2013 were $695.3 million, a decrease of 1% from sales of $701.8 million for the nine months ended October 27, 2012. Total revenues were $702,459,000 compared to $709,412,000 a year ago. Income before income taxes was $78,419,000 compared to $85,740,000 a year ago.
The company continues to expect that fourth quarter sales results will be in line with year-to-date trend with same-store sales in the range of down 3% to flat. Based on that range, the company expects fourth quarter earnings per diluted share will be within original guidance range of $0.17 to $0.23 versus $0.27 last year, a decrease of 37% to 15%.
For the year, earnings per diluted share are estimated to be in the range of $1.90 to $1.96 vs. $2.11 last year, a decrease of 10% to 7%.