Frank:
Apparently very good news! Stocks up!
The Cato Corporation Reports Sales For July And Second Quarter
CHARLOTTE, N.C., Aug. 6 /PRNewswire/ -- The Cato Corporation (Nasdaq: CACOA - news) today reported that July sales for the four weeks ended August 1, 1998, were $36.7 million, an increase of 6% versus sales of $34.5 million for the comparable period ended August 2, 1997. Same-store sales for July, 1998, or sales in stores that were open and were not relocated or expanded during the last 15 months, increased 5%.
For the second quarter ended August 1, 1998, sales were $132.6 million, compared with $120.9 million for the second quarter, 1997, an increase of 10%. Same-store sales increased 7% for the second quarter. The Company's first half sales were $268.7 million, an increase of 10% over last year's first half sales of $244.2 million. Same-store sales increased 7% for the first half of 1998.
Wayland H. Cato, Jr., Chairman and Chief Executive Officer, commented, ''We are pleased with the direction of our business. Inventories and expenses are in line with plans. July same-store and total sales results exceeded plan and we expect to exceed second quarter earnings expectations.''
The Cato Corporation is a women's apparel specialty retailer operating under the names ''Cato Fashion/Cato Plus'' and ''It's Fashion!''. As of August 1, 1998, The Cato Corporation operated 701 stores in 21 states, compared to 677 stores at August 2, 1997.
SOURCE: The Cato Corporation
What do you think about the results?
Thanks
Jim |
