Cato Comps For October Up 2%, Sales Increase 6%

(RTTNews) - Cato Corp. (CATO) said Thursday that its sales for the four weeks ended November 1, increased 6 percent to $70.5 million from $66.7 million in the comparable period. Same-store sales for the month was up 2%, but slightly below its current trend.

Sales for the third quarter climbed 8 percent to $213.8 million from $198.8 million last year. Same-store sales for the third quarter increased 4%.

For the thirty-nine weeks ended November 1, sales rose 6 percent to $740.0 from $695.3 million in the prior year. The Company's year-to-date same-store sales increased 3%.

The company said it remains cautious in regard to the remainder of the year and projects third quarter earnings per to be in the range of $.15 to $.17 versus $.17 last year.