In the four-weeks period ending August 2, 2014, sales at Cato Corporation, a leading specialty retailer of value-priced fashion apparel and accessories, went up 6% while comparable stores sales rose slower at 4% in same period of four-weeks ending August 3, 2013.
In the period under review, Cato Corporation posted sales of $65.3 million, up from $61.6 million for the four weeks ended August 3, 2013. Same-store sales for the same period rose 4% from a year earlier.
For the second quarter ended August 2, 2014, sales stood at $243.8 million, up 6% versus sales of $229.4 million in prior year period. In the same period, second quarter same-store sales increased 3%.
Sales in the first half of fiscal year ended August 2, 2014, went up by 6% year-on-year to $526.2 million from $496.6 million. Comparable store sales for the first half were up 3% from a year ago.
"July same-store sales were in line with our year-to-date trend," commented John Cato, Chairman, President, and Chief Executive Officer. "We now expect second quarter earnings per diluted share to be in the range of $.50 to $.53 vs. $.51 last year, a decrease of 2% to an increase of 4%."
Cato Corporation said it will release second quarter results on Thursday, August 21, 2014.
Cato Corporation operated 1,328 stores in 32 states, compared to 1,306 stores in 31 states as of August 3, 2013, as of August 2, 2014.