Sales for the thirty-five weeks ended October 5, 2013 were $628.6 million, down 1% to sales of $637.5 million for the thirty-five weeks ended September 29, 2012. The Company's year-to-date same-store sales decreased 3% from the prior year.
"September same-store sales were within our guidance and consistent with 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 $.02 to $.09 versus $.16 last year."
During the month of September, the Company opened three new stores. New stores opened in Southaven, MS, Freemont, NE, and San Angelo, TX. As of October 5, 2013, The Cato Corporation operated 1,312 stores in 32 states, compared to 1,302 stores in 31 states as of September 29, 2012.
The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato", "Versona" and "It's Fashion". The Company's Cato stores offer exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day.
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