Cato Corp. (CATO) Comps Rose 5% in Sept.

Cato Corp. (NYSE: CATO) reported sales of $79.7 million for the five weeks ended October 4, 2014, a 9% increase over sales of $72.9 million for the five weeks ended October 5, 2013. Same-store sales for the five-week period increased 5% from the prior year.

Sales for the thirty-five weeks ended October 4, 2014 were $669.5 million, up 7% to sales of $628.6 million for the thirty-five weeks ended October 5, 2013. The Company's year-to-date same-store sales increased 4% from the prior year.

"September same-store sales were above our guidance and also above our current trend," stated John Cato, Chairman, President, and Chief Executive Officer. "We now expect third quarter earnings per diluted share will be at the higher end of our guidance range of $.08 to $.13 versus $.17 last year."

*** The Street sees Q3 EPS of $0.15.

During the month of September, the Company opened two new stores. New stores opened in Myrtle Beach, SC and Floresville, TX. As of October 4, 2014, The Cato Corporation operated 1,336 stores in 32 states, compared to 1,312 stores in 32 states as of October 5, 2013.

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