Home / Knowledge / News / Apparel/Garments / Cato expects Q3 EPS to be above previous guidance
Cato expects Q3 EPS to be above previous guidance
07
Nov '08
The Cato Corporation reported sales for the four weeks ended November 1, 2008 of $59.5 million, an increase of 5% over sales of $56.9 million for the four week period ended November 3, 2007. Comparable store sales for the month increased 4%.

Sales for the third quarter ended November 1, 2008 were $179.8 million, a decrease of 1% from sales of $181.9 million for the third quarter ended November 3, 2007. Comparable store sales for the third quarter decreased 2% from the prior year.

Sales for the thirty-nine weeks ended November 1, 2008 were $636.6 million, an increase of 2% over sales of $625.0 million for the thirty-nine weeks ended November 3, 2007. The Company's year-to-date comparable store sales decreased 1% from the prior year.

"October comparable store sales benefited from cooler weather compared to last year," stated John Cato, Chairman, President, and Chief Executive Officer. "Comparable store sales for the quarter were at the lower end of our expectations and business remains very difficult. We now expect third quarter earnings per diluted share to be slightly above our previous guidance range of ($.05) to $.00 versus $.09 last year. The better than expected estimated third quarter earnings per diluted share are primarily a result of the reversal of incentive compensation accrued during the first half of the year and tax benefits related to FIN48. Without these adjustments, estimated earnings per diluted share would be at the lower end of our previous guidance."

The Company will release third quarter financial results on Thursday, November 20, 2008.

During the month of October, the Company opened 10 stores, relocated two stores and closed two stores. New stores opened in Demopolis, AL, Pueblo, CO, Bushnell, FL, Americus, GA, Columbus, Greenwood, Hattiesburg and Jackson, MS, Batavia, NY and Center, TX. The relocated stores are in Paris, KY and Wilmington, NC.

Year-to-date the Company has opened 57 new stores, relocated four stores, and closed 70 stores. As of November 1, 2008, the Company operated 1,305 stores in 31 states, compared to 1,321 stores in 31 states as of November 3, 2007.

The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, "Cato" and "It's Fashion". The Company's Cato division offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day. The It's Fashion division offers fashion with a focus on the latest trendy styles and nationally recognized urban brands for the entire family at low prices every day.

Cato Corporation


Must ReadView All

UK, EU agree to take more time for Brexit deal

Textiles | On 19th Oct 2018

UK, EU agree to take more time for Brexit deal

After an ongoing Brexit summit produced no tangible results, European ...

Courtesy: Pexels

Textiles | On 19th Oct 2018

US announces intent for trade deals with Japan, EU, UK

US Trade Representative Robert Lighthizer recently notified the...

Courtesy: Turtle Limited

Fashion | On 19th Oct 2018

'We are trying to imbibe multi-utility factor in menswear'

Turtle Limited, a leading Indian brand in menswear fashion, is trying ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Hardik Sanghvi,

Hardik Sanghvi

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

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

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner, Devereux

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search