Cato Sept. Same-store Sales Up 5% - Quick Facts

(RTTNews) - Cato Corp. (CATO) recorded 9% higher September sales of $79.7 million, compared with $72.9 million last year. Same-store sales for the five-week period went up by 5% year-over-year.

For the thirty-five weeks ended October 4, 2014, sales totaled $669.5 million, up 7% from the prior year's $628.6 million. The company's year-to-date same-store sales rose by 4% from the previous year.

"September same-store sales were above our guidance and also above our current trend," stated John Cato, Chairman, President, and Chief Executive Officer.

Looking forward, the company now sees third-quarter earnings per share to be at the higher end of its guidance range of $0.08 to $0.13.

During September, the company opened two new stores. New stores opened in Myrtle Beach, SC and Floresville, TX. As of October 4, 2014, the firm operated 1,336 stores in 32 states, compared with 1,312 stores in 32 states as of October 5, 2013.