Apparel stocks set Wall Street fashions

The Cato Corporation reported net income for the fourth

quarter and year ended February 2, 2013. For the fourth quarter, the Company reported net income of 7.9 million dollars or 0.27 dollars per diluted share, compared to net income of 10.1 million dollars or 0.35 dollars per diluted share for the fourth quarter ended January 28, 2012.

For the quarter, net income decreased 22 percent and earnings per diluted share decreased 23 percent from the prior year. Full year fiscal 2012 net income was 61.7 million dollars or 2.11 dollar per diluted share compared to 64.8 million dollars or 2.21 dollars per diluted share for 2011. For the year, both net income and earnings per diluted share decreased 5 percent from the prior year.

"Cato continues to maintain a strong balance sheet, with approximately 200 million dollars in cash and short-term investments and no debt," commented Mr. Cato. During 2012, the Company returned 87.2 million dollars in profits to shareholders through dividends.

Other stock on the move on Thursday in Wall Street was Perry Ellis International, up 3 percent to 17.94 dollars as the apparel retailer's fourth-quarter profit beat estimates, helped by sales growth and lower promotions in its Golf lifestyle apparel, Laundry by Shelli Segal and namesake brands.

Meanwhile, Guess Inc dropped 6 percent to 25.25 dollars and Pacific Sunwear of California slipped by 8 percent to close in the region of 2.24 dollars per share.

Finally, Ross Stores posted profit that soared in the fourth quarter, sending its stock up on trading Thursday. Ross earned 236.6 million dollars on sales of 2.76 billion dollars for the quarter to Feb. 2. Compared with the year-ago fourth quarter, profit jumped 23 percent and sales rose 15 percent. Earnings were 1.07 dollars a share. The results met Wall Street's expectations of a per-share profit of 1.07 dollars on sales of 2.76 billion dollars.