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Cato again delivers strong results in difficult environment
22 Mar '10
4 min read
The Company's net income estimates for 2010 also reflect the following items:
• The Company expects to open 55 new stores during 2010. The expected new store openings include 15 new Cato stores and 40 new It's Fashion Metro stores (including the conversion of approximately 20 existing It's Fashion stores).
• The Company anticipates closing up to 40 stores by year end, including the 20 conversions mentioned above. At this time, one specific store has been identified for closure.
• Capital expenditures are projected to be approximately $25 million, including $12 million for store development.
• Depreciation is expected to be approximately $21 million for the year.
• The effective tax rate is expected to be approximately 36.6%.
• The Company expects to open 55 new stores during 2010. The expected new store openings include 15 new Cato stores and 40 new It's Fashion Metro stores (including the conversion of approximately 20 existing It's Fashion stores).
• The Company anticipates closing up to 40 stores by year end, including the 20 conversions mentioned above. At this time, one specific store has been identified for closure.
• Capital expenditures are projected to be approximately $25 million, including $12 million for store development.
• Depreciation is expected to be approximately $21 million for the year.
• The effective tax rate is expected to be approximately 36.6%.
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