Cato December Comp Down 4%; Cuts Earnings Guidance

(RTTNews) - The Cato Corporation (CATO) Thursday reported 4 percent lower comparable-store sales for December, citing bad weather early in the month. The company also trimmed fourth-quarter and full year guidance.

Cato now expects fourth-quarter earnings per share of $0.11- $0.15, compared with the prior guidance of $0.17 to $0.23. For the year, the company lowered its earnings guidance to $1.84 - $1.88 from the prior guidance of $1.90 - $1.96. The company said that the revised guidance includes the effect of $0.08 in store fixture write-offs and store impairment charges.

Sales for the month of December decreased by 3 percent to $100.1 million from $103.3 million a year ago.

Wednesday, the stock closed at $31.86 on the NYSE.