Cato Reports December Same-Store Sales Down 4%

December was a tough month for retailers across the board, and women's apparel retailer Cato was no exception. The company trimmed its earnings expectations for the year while posting softer December sales. Cato said it now expects to report $1.84 to $1.88 a share in profit for the year, down from its previous view of $1.90 to $1.96 a share. Cato experienced a 4 percent drop in same-store sales, which it blamed on bad weather in several markets. Story

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