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February 07, 2016 4:56 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 August 1, 2015, it operated 1,358 fashion specialty stores in 32 st...

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 Month, Fourth Quarter and Full Year Ended Jan. 30, 2016; Revised Financial Guidance for the Fourth Quarter and Full Year of Fiscal 2016

The Cato Corporation reported sales results for the month, fourth quarter and full year ended Jan. 30, 2016. The company reported sales of $52.9 million for the four weeks ended January 30, 2016, a decrease of 4% from sales of $54.9 million for the four weeks ended January 31, 2015. Same-store sales for the month decreased 7% from last year. The company announced that the January same-store sales results were significantly impacted by adverse weather. Sales for fiscal fourth quarter ended January 30, 2016 were $247.3 million, an increase of 4% from sales of $237.8 million for the fourth quarter ended January 31, 2015. For the quarter, same-store sales increased 1% from last year. For the year, the company's sales increased 2% to $1,001.4 million from 2014 sales of $977.9 million. For the year, same-store sales were flat to last year. Due to the affect of the adverse weather and increased costs, primarily related to higher medical expenses, the company now expects fourth quarter EPS results will be within the range of $0.32 to $0.36 versus the previous guidance of $0.39 to $0.43 versus $0.33 last year. The company now estimates for full year earnings per diluted share is now in the range of $2.28 to $2.32 versus most recent guidance of $2.35 to $2.39 versus $2.15 last year.

the Cato Corporation Reports Sales Results for the Five Weeks and Eleven Months Ended January 2, 2016; Revised Earnings Guidance for the Fourth Quarter and Full Year of 2016

The Cato Corporation reported sales results for the five weeks and eleven months ended January 2, 2016. For the five weeks, the company reported sales of $118.5 million, a 9% increase from sales of $109.2 million for the five weeks ended January 3, 2015. Same-store sales for the month increased 6%. Sales for the eleven months ended January 2, 2016 were $948.5 million, a 3% increase from sales of $923.0 million for the eleven months ended January 3, 2015. The company's year-to-date same-store sales are flat to last year. The company now expects that fourth quarter earnings per diluted share will be within the range of $0.39 to $0.43, versus original guidance of $0.35 to $0.39 and $0.33 last year. Increased earnings per diluted share are primarily due to higher sales and lower taxes; however, the company still remain cautious for the remainder of the quarter due to unfavorable sales comparisons to last year. The company's estimate for full year earnings per diluted share is now in the range of $2.35 to $2.39 versus most recent guidance of $2.31 to $2.35 and $2.15 last year.

The Cato Corporation Reports Sales Results for the Four Weeks and Ten Months Ended November 28, 2015

The Cato Corporation reported sales results for the four weeks and ten months ended November 28, 2015. For the four weeks, the company reported sales of $76.0 million, a 3% increase over sales of $73.8 million for the four week period ended November 29, 2014. Same-store sales for the month were up 1% to the prior year. Sales for the ten months ended November 28, 2015 were $830.1 million, a 2% increase from sales of $813.8 million for the ten months ended November 29, 2014. The company's year-to-date same-store sales decreased 1%.

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