Cato Corp. Q1 Profit Rises, Widens 2015 EPS Outlook Range - Quick Facts

(RTTNews) - Cato Corp. (CATO) reported that first-quarter net income grew to $31.08 million or $1.11 per share from $30.01 million or $1.04 per share in in the prior-year quarter.

The company said earnings per share benefited $0.03 in the first quarter due to share repurchases in the first quarter of 2014.

Total revenues for the quarter edged down to $283.90 million from $284.73 million in the same quarter last year.

Sales for the quarter was $281.6 million, down from $282.5 million last year. Same-store sales decreased 3 percent in the quarter.

Looking ahead to the second-quarter, the company expects earnings in a range of $0.54 to $0.57 per share on same store sales in the range of down 2 percent to flat.

For fiscal 2015, the company now expects earnings in a range of $2.10 to $2.23 per share, compared to the prior forecast range of $2.19 to $2.03 per share.