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Cato July comparable store sales rise 1%

03
Aug '06
The Cato Corporation reported sales of $60.3 million for the four weeks ended July 29, 2006, a 6% increase over sales of $56.8 million for the four weeks ended July 30, 2005. Comparable store sales for the month increased 1%.

Sales for the second quarter ended July 29, 2006 were $214.6 million, a 3% increase over sales of $208.3 million for the second quarter ended July 30, 2005. Second quarter comparable store sales decreased 1%.

Sales for the first half were $444.4 million, a 5% increase over 2005 first half sales of $423.4 million. Comparable store sales for the first half were flat to the prior year.

"For the quarter, we continued to experience higher merchandise margins as a result of better sell-throughs of regular priced goods," commented John Cato, Chairman, President, and CEO. "We now estimate second quarter earnings per diluted share to be at or slightly above the high end of our previous guidance of $.34 to $.37 versus $.34 last year."

The company will release second quarter results on Tuesday, August 15, 2006. During the month of July, the company relocated two stores in Bainbridge, GA.

During the first half, the company opened 21 new stores, relocated 11 stores, and closed six stores. As of July 29, 2006, The Cato Corporation operated 1,259 stores in 31 states, compared to 1,197 stores in 31 states as of July 30, 2005.

The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, 'Cato' and 'It's Fashion!'. It offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day.

The Cato Corporation


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