Cato reports 2 percent increase in Q2 net income

The Cato Corporation reported net income of 15.9 million dollars or 0.57 dollar per diluted share for the second quarter ended July 30, 2016, compared to net income of 15.6 million or 0.56 dollar per diluted share for the same quarter last year, representing a rise of 2 percent. Earnings per diluted share increased 2 percent for the quarter. Sales however decreased 5 percent to 236.7 million dollars, while same-store sales were down 6 percent to last year.