CATO October SSS +3%
The Cato Corporation (NYSE: CATO) today 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.