Cato September same-store sales rise 2 percent

Sales at the Cato Corporation of 83.2 million dollars for the five weeks ended October 3, 2015, increased 4 percent over sales of 79.7 million dollars for the same period, last year. Same-store sales for the period increased 2 percent from the prior year.

“September same-store sales were above our guidance,” stated John Cato, Chairman, President, and Chief Executive Officer, adding, “We now expect third quarter earnings per diluted share will be in the range of 0.18 dollar to 0.22 dollar versus 0.20 dollar last year and up from our previous guidance of 0.12 dollar to 0.16 dollar.”

Sales for the thirty-five weeks ended October 3, 2015 were 680.9 million dollars, up 2 percent to sales of 670.0 million dollars for the thirty-five weeks ended October 4, 2014. The company's year-to-date same-store sales decreased 1 percent from the prior year.

During the month of September, the company opened six new stores and closed two stores. New stores opened in Catoosa, OK, Ottumwa, IA, Bossier City, LA, Wichita, KS, Huntsville, AL, and Norfolk, VA. As of October 3, 2015, The Cato Corporation operated 1,367 stores in 32 states, compared to 1,336 stores in 32 states as of October 4, 2014.