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Cato Q1 comparable store sales rise 17%
04 May '06
2 min read
Fashion retailer The Cato Corporation reported sales of $81.8 million for the four weeks ended April 29th 2006, a 22 percent increase over sales of $67.1 million for the four weeks ended April 30th 2005. Comparable store sales for the month increased 17 percent.
Sales for the first quarter ended April 29th 2006 were $229.7 million, a 7 percent increase over sales of $215.1 million for the first quarter ended April 30th 2005. Comparable store sales increased 2 percent for the first quarter.
Because of the shift of Easter, the best measure for year over year performance for March and April is the combined sales for the two months, which increased 10 percent overall and increased 6 percent on a comparable store basis.
"Sales for the first quarter were good across most categories," said John Cato, Chairman, President, and CEO. "On a combined basis, March and April benefited from more favorable weather than last year. Because of higher sales, we now estimate first quarter earnings per diluted share to be in the range of $.62 to $.64 versus $.58 last year, a 7% to 10% increase."
During the month of April, it opened four new stores, relocated two stores, and closed one store. The new stores opened in Mebane, NC, Coshocton, OH, Ashland City, TN, and Lubbock, TX.
The 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 updated fashion and quality comparable to mall specialty stores at low prices, every day.
Sales for the first quarter ended April 29th 2006 were $229.7 million, a 7 percent increase over sales of $215.1 million for the first quarter ended April 30th 2005. Comparable store sales increased 2 percent for the first quarter.
Because of the shift of Easter, the best measure for year over year performance for March and April is the combined sales for the two months, which increased 10 percent overall and increased 6 percent on a comparable store basis.
"Sales for the first quarter were good across most categories," said John Cato, Chairman, President, and CEO. "On a combined basis, March and April benefited from more favorable weather than last year. Because of higher sales, we now estimate first quarter earnings per diluted share to be in the range of $.62 to $.64 versus $.58 last year, a 7% to 10% increase."
During the month of April, it opened four new stores, relocated two stores, and closed one store. The new stores opened in Mebane, NC, Coshocton, OH, Ashland City, TN, and Lubbock, TX.
The 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 updated fashion and quality comparable to mall specialty stores at low prices, every day.
The Cato Corporation
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