Home / Knowledge / News / Apparel/Garments / Cato Corp sales slip 25% for five weeks ended Feb 2
Cato Corp sales slip 25% for five weeks ended Feb 2
07
Feb '14
The Cato Corporation reported sales of $48.1 million for the four weeks ended February 1, 2014, a decrease of 25% from sales of $63.8 million for the five weeks ended February 2, 2013.  
 
The fiscal year ended February 1, 2014 contains 52 weeks versus 53 weeks in the fiscal year ended February 2, 2013, and January 2014 contains four weeks versus five weeks in January 2013.  On a comparable four-week basis, total sales for the month decreased 4%, and same-store sales decreased 8% from last year.
 
Sales for fiscal fourth quarter ended February 1, 2014 were $215.5 million, a decrease of 7% from sales of $232.0 million for the fourth quarter ended February 2, 2013.  On a comparable 13-week basis, total sales for the quarter decreased 1%, and same-store sales decreased 3% from last year.  
 
For the year, the Company's sales decreased 2% to $910.8 million from 2012 sales of $933.8 million.  On a comparable 52-week basis, total sales for the fiscal year ended February 1, 2014 decreased 1%, and same-store sales decreased 3% from 2012.
 
"January same-store sales results were significantly impacted by winter storms during the month," stated John Cato, Chairman, President, and Chief Executive Officer.  "We continue to expect fourth quarter EPS results will be within our previous range of $0.11 to $0.15 versus $0.27 last year.  For the year, we continue to expect diluted earnings per share will be within the range of $1.84 to $1.88 versus $2.11 last year."
 
The Company will release fourth quarter and fiscal year 2013 earnings on Thursday, March 20, 2014.
 
During January, the Company opened six stores and closed two stores.  New stores opened in Chalmette, LA, Mays Landing, NJ, Greenwood, SC, Beaumont and San Antonio, TX and Newport News, VA. 
 
During the fourth quarter, the Company opened 16 stores, relocated one store and closed 14 stores.  For the fiscal year ended February 1, 2014, the Company opened 32 stores, relocated five stores and closed 22 stores.  As of February 1, 2014, the Company operated 1,320 stores in 32 states, compared to 1,310 stores in 31 states as of February 2, 2013. 
 
The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato", "Versona" and "It's Fashion".  The Company's Cato stores offer exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day.  
 

Cato corp


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search