Cato Corp. reports sales for the four weeks ended Oct. 31 of $61.9 million, a 4 percent increase from $59.5 million a year ago.
Sales at stores in operation for at least a year were flat.
The Charlotte-based retailer says higher-than-expected sales and margins will push projected earnings to between 7 cents and 9 cents per diluted share for the fiscal third quarter. It had projected earnings of 3 cents to 5 cents, says John Cato, chief executive.
Cato earned 3 cents per diluted share in the third quarter of last year.
Cato (NYSE:CATO) is a retailer of women’s apparel and accessories. As of Oct. 31, the company operated 1,291 stores in 31 states.
Source: Charlotte Business Journal
