Cato (CATO) October Comps Increased 3%
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Cato Corp. (NYSE: CATO) reported sales for the four weeks ended November 2, 2013 of $66.7 million, a 4% increase over sales of $64.3 million for the four week period ended October 27, 2012. Same-store sales for the month increased 3%.
Sales for the third quarter ended November 2, 2013 were $198.8 million, a 1% increase over sales of $197.6 million for the third quarter ended October 27, 2012. Same-store sales for the third quarter decreased 1%.
Sales for the thirty-nine weeks ended November 2, 2013 were $695.3, a decrease of 1% from sales of $701.8 million for the thirty-nine weeks ended October 27, 2012. The Company's year-to-date same-store sales decreased 3%.
"October sales benefited from some cooler weather during the month relative to the prior year. However, we continue to expect a difficult sales environment through the fourth quarter. We now estimate that third quarter earnings per diluted share will be in the range of $.13 to $.15 versus $.16 last year and up from our previous guidance of the higher end of the range of $.02 to $.09," commented John Cato, Chairman, President, and Chief Executive Officer.
The Company will release third quarter financial results on Thursday, November 21, 2013.
During the month of October, the Company opened six stores and relocated one store. New stores opened in Flint, MI, Lee's Summit, MO, Durham, NC, Norman, OK, Altoona, PA and Irving, TX. The relocated store is in Morganton, NC.
Year-to-date, the Company has opened 16 new stores, relocated four stores, and closed eight stores. As of November 2, 2013, the Company operated 1,318 stores in 32 states, compared to 1,306 stores in 31 states as of October 27, 2012.
Sales for the third quarter ended November 2, 2013 were $198.8 million, a 1% increase over sales of $197.6 million for the third quarter ended October 27, 2012. Same-store sales for the third quarter decreased 1%.
Sales for the thirty-nine weeks ended November 2, 2013 were $695.3, a decrease of 1% from sales of $701.8 million for the thirty-nine weeks ended October 27, 2012. The Company's year-to-date same-store sales decreased 3%.
"October sales benefited from some cooler weather during the month relative to the prior year. However, we continue to expect a difficult sales environment through the fourth quarter. We now estimate that third quarter earnings per diluted share will be in the range of $.13 to $.15 versus $.16 last year and up from our previous guidance of the higher end of the range of $.02 to $.09," commented John Cato, Chairman, President, and Chief Executive Officer.
The Company will release third quarter financial results on Thursday, November 21, 2013.
During the month of October, the Company opened six stores and relocated one store. New stores opened in Flint, MI, Lee's Summit, MO, Durham, NC, Norman, OK, Altoona, PA and Irving, TX. The relocated store is in Morganton, NC.
Year-to-date, the Company has opened 16 new stores, relocated four stores, and closed eight stores. As of November 2, 2013, the Company operated 1,318 stores in 32 states, compared to 1,306 stores in 31 states as of October 27, 2012.
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