Why Shares Of Cato Were Trading Higher Thursday Morning

Shares of Cato Corp CATO were trading higher by more than 2.75 percent during Thursday's pre-market session after the company reported December same-store sales data. Cato stated that same-store sales for the five-week period ending January 3 rose 6 percent. Total sales rose 9 percent from the same period a year ago to $100.1 million. Sales for the 11-month period ending January 3 rose 7 percent from the same period a year ago to $923.0 million. Cato noted that December's same-store sales gain were positively impacted by weather and were above expectations. Accordingly, the company now expects its fourth quarter earnings per diluted share to be in a range of $0.25 to $0.29, higher than previous guidance of $0.13 to $0.17 per diluted share. Earnings per diluted share for the full fiscal year are now projected to be $2.07 to $2.11, versus previous guidance of $1.95 to $1.99 per diluted share.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsRetail SalesCatoretailerssame store sales
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!