Cato Corp. (CATO) Reports Q4 Loss of $0.13/Share

Cato Corp. (NYSE: CATO) reported Q4 EPS of ($0.13), versus ($0.62) reported last year. Revenue for the quarter came in at $190.4 million, versus $211.1 million reported last year.

2019 Outlook

"For 2019, the Company will continue to focus on improving our merchandise offering and increasing sales through our existing stores and ecommerce." Mr. Cato said. "While the apparel retail environment remains volatile and in transition with retailers still being overstored and customer shopping patterns and preferences still changing, we will continue to manage inventory tightly to ensure profitability."

The Company's estimates for 2019 reflect the following assumptions:

• The Company plans to open 12 stores during the year.
• The Company anticipates closing up to 50 stores by year-end as leases expire with minimal financial impact.
• Capital expenditures are projected to be approximately $13 million for store development and continued investments in technology.
• Depreciation is expected to be approximately $15 million for the year.
• The effective tax rate is expected to be approximately 13%.

For earnings history and earnings-related data on Cato Corp. (CATO) click here.

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