Earnings
Cato Sept. Sales Metric Rises; Co. Lifts 3Q View
CHARLOTTE, N.C. (AP) — Women's clothing retailer Cato Corp. said Thursday sales at its stores open at least a year rose 6 percent in September.
The results prompted the company to raise its third-quarter earnings estimate. Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones. Net sales for the five weeks ended Oct. 4 climbed 8 percent to $70 million. Sales for the thirty-five weeks ended Oct. 3 rose 3 percent to $592.5 million, up from $577.1 million in the year-ago period. Given the higher-than-expected sales and margins, the company raised its third-quarter profit estimate to a range between 3 cents per share and 5 cents per share. The company previously forecast a loss of 3 cents per share to 7 cents per share. Analysts polled by Thomson Reuters forecast a loss of 3 cents per share, on average. Cato shares rose 84 cents, or 4.1 percent, to $21.34 in morning trading. The stock has ranged from $11.30 to $22.56 over the past year.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |


Connect with TheStreet