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

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search