Women's apparel retailer Cato reaffirms Q4 & full year EPS estimate
09 Feb '07
3 min read
“For the year, we maintain our guidance of estimated earnings per diluted share in the range of $1.56 to $1.57 versus $1.41 last year, an increase of approximately 11%. We continue to estimate the positive earnings effect of the 53rd week to be approximately $.05 per diluted share. The effect of the 53rd week in 2006 will reduce 2007 earnings growth to below historical averages."
The Company will release fourth quarter and fiscal year 2006 earnings on Thursday, March 22, 2007.
During January, the Company opened nine stores, relocated three stores and closed six stores. New stores opened in Gardendale, Mobile and Russellville, AL, Smyrna, GA, Eunice, LA (two stores), Boiling Springs, SC, El Campo, TX, and Richmond, VA. The relocated stores are in Washington, IN, Jackson, TN, and College Station, TX.
The Company had two stores that were damaged by 2005 hurricanes and had been closed since September 2005. The Company now considers these stores permanently closed.
During the fourth quarter, the Company opened 20 stores, relocated five stores, and closed 14 stores. For the fiscal year ended February 3, 2007, the Company opened 58 stores, relocated 20 stores and closed 26 stores. As of February 3, 2007, the Company operated 1,276 stores in 31 states, compared to 1,244 stores in 31 states as of January 28, 2006.
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