Cato Q1 Profit Edges Down, Lifts FY14 Outlook - Quick Facts

(RTTNews) - Cato Corp. (CATO) Tuesday posted first-quarter net income of $30 million or $1.04 per share, compared with $30.8 million or $1.05 per share in the prior-year quarter.

Sales for the first quarter rose 6 percent to $282.5 million from $267.2 million last year. The Company's same-store sales in the quarter, increased 3 percent year-over-year.

The firm currently expects second-quarter earnings in the range of $0.40 - $0.45.

After adjusting the group's original 2014 guidance for first quarter actual results and share repurchases, estimated earnings per share for the full year is now between $1.66 and $1.79 versus original guidance of $1.47 and $1.66.