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July 01, 2015 1:33 AM ET

Specialty Retail

Company Overview of The Cato Corporation

Company Overview

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories in the Southeastern United States. It operates through two segments, Retail and Credit. The company’s stores and e-commerce Website offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags for women. It also offers men’s wear, as well as lines for kids and newborns. The company operates its stores primarily under the Cato, Cato Fashions, Cato Plus, It’s Fashion, It’s Fashion Metro, and Versona names. As of January 31, 2015, it operated 1,346 fashion specialty stores in 32 ...

8100 Denmark Road

Charlotte, NC 28273

United States

Founded in 1946

10,000 Employees

Phone:

704-554-8510

Key Executives for The Cato Corporation

Chairman, Chief Executive Officer and President
Age: 65
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice President
Age: 52
Total Annual Compensation: $401.3K
Executive Vice President of Merchandising Cato and Versona Concepts
Age: 61
Total Annual Compensation: $419.4K
Executive Vice President and Director of Stores
Age: 52
Total Annual Compensation: $351.0K
Chief Real Estate & Store Development Officer and Executive Vice President
Age: 59
Total Annual Compensation: $317.5K
Compensation as of Fiscal Year 2014.

The Cato Corporation Key Developments

The Cato Corporation Reports Sales Results for the Four and Seventeen Weeks Ended May 30, 2015

The Cato Corporation reported sales results for the four and seventeen weeks ended May 30, 2015. For the four weeks, the company reported sales of $88.5 million, a 2% increase versus sales of $86.4 million for the same period last year. Same-store sales were flat to last year. For the seventeen weeks, sales were $370.1 million which were slightly higher than sales of $368.9 million for the same period last year. The company's year-to-date same-store sales decreased 2%.

The Cato Corporation Declares Regular Quarterly Dividend, Payable on June 22, 2015

The Board of Directors of The Cato Corporation declared a regular quarterly dividend of $0.30 per share. The dividend will be payable on June 22, 2015 to shareholders of record on June 8, 2015. The $0.30 dividend, or $1.20 on an annualized basis, represents an annualized yield of 3.1% at the closing market price on May 20, 2015.

The Cato Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Reaffirms Earnings Guidance for the Second Quarter and Full Year of 2015

The Cato Corporation reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. The company reported net income of $31.1 million or $1.11 per diluted share for the first quarter ended May 2, 2015, compared to net income of $30.0 million or $1.04 per diluted share for the first quarter ended May 3, 2014. Net income increased 4% and earnings per diluted share increased 7% for the quarter. Sales were $281.6 million, or flat from sales of $282.5 million for the first quarter ended May 3, 2014. Income before income taxes was $47.989 million against $48.172 million a year ago. The company expectations for the second quarter remain unchanged from what was included in the original guidance for the full year and reflect same store sales in the range of down 2% to flat and earnings per diluted share in the range of $0.54 to $0.57 versus $0.56 last year. After adjusting its original 2015 guidance for first quarter actual results, the company estimate of earnings per diluted share for the full year is now a range of $2.10 to $2.23 versus $2.15 last year.

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