Home / Knowledge / News / Apparel/Garments / Specialty apparel retailer Cato raises Q1 guidance
Specialty apparel retailer Cato raises Q1 guidance
09
May '08
The Cato Corporation reported sales of $69.4 million for the four weeks ended May 3, 2008, an 8% increase over sales of $64.2 million for the four weeks ended May 5, 2007. Comparable store sales for the month increased 5%.

Sales for the first quarter ended May 3, 2008 were $225.8 million, a 1% increase over sales of $224.1 million for the first quarter ended May 5, 2007. Comparable store sales decreased 2% for the first quarter.

Because of the Easter shift, the best measure for year over year performance for March and April is the combined sales for the two months, which decreased 1% overall and decreased 3% on a comparable store basis.

"Combined March and April sales benefited from favorable weather comparisons to the prior year," said John Cato, Chairman, President, and Chief Executive Officer. "We now estimate first quarter earnings per diluted share will be in the range of $0.58 to $0.61 versus $0.59 last year.

Our earnings estimate for the quarter reflects the benefit of reduced markdowns. We continue to expect our business to be difficult for the foreseeable future with comparable store sales in the range of flat to down 3%. We remain comfortable with our previous guidance for the remainder of the year."

During the month of April, the Company opened nine new stores and closed three stores. New stores opened in Chipley, FL, LaGrange, GA, Belleville, IL, Baker and Port Allen, LA, Southhaven, MS, Mount Olive, NC, and Bay Cityand Houston, TX. As of May 3, 2008, the Company operated 1,326 stores in 32 states, compared to 1,286 stores in 31 states as of May 5, 2007.

Cato Corporation

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

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

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search