- Prachi Singh |
REPORT_ The Cato Corporation reported sales for the four weeks ended November 1, 2014 of 70.5 million dollars, a 6 percent increase over sales of 66.7 million dollars for the four week period ended November 2, 2013. Same-store sales for the month increased 2 percent.
Sales for the third quarter ended November 1, 2014 were 213.8 million dollars, an 8 percent increase over sales of 198.8 million dollars for the third quarter ended November 2, 2013. Same-store sales for the third quarter increased 4 percent.
“October same-store sales were slightly below our current trend. We remain cautious in regard to the remainder of the year. We now estimate that third quarter earnings per diluted share will be in the range of 0.15 dollars to 0.17 dollars versus 0.17 dollars last year,” commented John Cato, Chairman, President, and Chief Executive Officer.
Sales for the thirty-nine weeks ended November 1, 2014 were 740 million dollars, an increase of 6 percent from sales of 695.3 million dollars for the thirty-nine weeks ended November 2, 2013. The company's year-to-date same-store sales increased 3 percent.
The company will release third quarter financial results on Thursday, November 20, 2014. During the month of October, the Company opened seven stores. Year-to-date, the company has opened 16 new stores, relocated four stores, and closed eight stores. As of November 1, 2014, the company operated 1,318 stores in 32 states, compared to 1,306 stores in 31 states as of November 2, 2013.