The company is projecting first quarter net income in the range of $17.6 to $18.4 million, a 4 percent decrease to flat to 2005, and earnings per diluted share to be in the range of $.55 to $.58, a 5 percent decrease to flat to 2005.
The company expects to open 90 new stores during the year. Its estimate reflects the impact of closing 10 stores by year-end. At this time, two stores have been closed, but no other stores have been identified for closure.
Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions: 'Cato' and 'It's Fashion!'. It offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day.
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