Cato Q2 Profit Down - Quick Facts

(RTTNews) - Women's fashion specialty retailer Cato Corp. (CATO), Thursday reported a decrease in the second-quarter net income, on lower revenues.

For the three-month period, net income was $14.8 million or $0.51 per share, a 14 percent decrease from $17.3 million or $0.59 per share last year.

Sales for the three-month  period was $229.4 million, down from prior year's $231.5 million. Same-store sales decreased 2 percent, due to slow economic growth, high unemployment and customers' limited spending. For the third quarter, the company projects earnings to be in the range of $0.02 to $0.09 per share, and $0.17 to $0.23 per share for the fourth quarter. Comparable-store sales for both the third and fourth quarters are estimated to be in the range of down 3 percent to flat. For the full year, the company expects earnings per share to be within the adjusted range of $1.75 to $1.88.