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Cato Corp Issues Q1 2013 Earnings Guidance; Issues FY 2013 Earnings Guidance Below Analysts' Estimates; Comments On FY 2013 Same Store Sales Guidance

Thursday, 21 Mar 2013 07:00am EDT 

Cato Corp announced that for first quarter of 2013, it expects net income to be in a range of $30.3 million to $33.3 million, or $1.03 to $1.14 per diluted share, a decrease of 5% to an increase of 5% compared to $1.09 in first quarter 2012. For fiscal 2013, it expects same-store sales to be in a range of down 3% to down 1% and its gross margin rate will decrease to 37.1% from 37.7% in 2012, resulting in net income in a range of $48.1 million to $56.8 million, a decrease of 22% to 8% compared to $61.7 million in 2012. The Company estimates earnings per diluted share to be in a range of $1.64 to $1.93, a decrease of 22% to 9% compared to $2.11 in 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $66 million and EPS of $2.30 for fiscal 2013. 

Company Quote

-0.12 -0.40%
28 Jul 2014