Charlotte, N.C.-based retailer of apparel and accessories for
) reported a 1% improvement in comparable-store sales (comps) for
the 4 weeks ended Mar 1, 2014. The rise was attributable to the
last two weeks of February during which the weather got warmer
and offset the negative impact of harsh weather in the first two
weeks of the month. Additionally, shoppers visited the company's
stores more at the month-end, as they felt richer after getting
Further, for the 4 weeks period, Cato reported a
year-over-year increase of 3% in total sales, which came in at
However, not all retailers emerged strong during the month.
The Buckle, Inc.
Stein Mart Inc.
The Gap Inc.
) were hard hit by unfavorable weather conditions. Buckle, Stein
Mart and Gap registered a comps decline of 1.4%, 2.1% and 7%,
respectively in February.
For the past two months, Cato's top-line performance was hurt
due to unfavorable weather conditions in many markets where it
primarily operates. On a year-over-year basis, net sales for Dec
2013 were down 3% while comps registered a decline of 4%. The
situation worsened in Jan 2014, with a fall of 25% and 8% in net
sales and comps, respectively.
Consequently, Cato ended its fiscal 2013 with a sales decline
of 2% to $910.8 million from $933.8 million during fiscal 2012.
Moreover, comps for the period slid 3% from the previous
The company, which is expected to report fiscal 2013 results
on Mar 20, expects its fiscal earnings to come in the range of
$1.84 to $1.88 per share. The Zacks Consensus Estimate for the
fiscal is pegged at $1.86 per share.
As of Mar 1, 2014, this leading specialty retailer of women's
fashions and accessories operated about 1,320 stores across 32
BUCKLE INC (BKE): Free Stock Analysis Report
GAP INC (GPS): Free Stock Analysis Report
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