Women's apparel store Cato Corp confirms EPS up 31% in Q2
17 Aug '05
3 min read
The Company's expectations for third quarter earnings per diluted share are in the range of $.02 to $.05 versus $.06 in 2004. For the fourth quarter, the Company expects earnings per diluted share to be in the range of $.28 to $.30 versus $.26 last year. Both quarters' estimates are based on comparable store sales in the range of down 2% to up 2%. For the year, earnings per diluted share are estimated to be in the range of $1.22 to $1.27 versus $1.11 last year, an increase of 10% to 14%.
During the first half, the Company opened 27 stores, relocated seven stores, and closed seven stores. The Company expects to meet its original estimate of 90 new stores for the year. As of July 30, 2005, The Cato Corporation operated 1,197 stores in 31 states, compared to 1,132 stores in 28 states as of July 31, 2004.
North Carolina based fashion firm 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 offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, everyday.
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