Cato Says Total Oct. Sales Climb 4 Percent

CHARLOTTE, N.C. (AP) — Women's clothing retailer Cato Corp. said Thursday its sales at stores open at least a year were flat from a year ago, though total sales rose 4 percent to $59.5 million.

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.

For the third quarter ended Oct. 31, sales at stores open at least a year rose 4 percent, while total third-quarter sales rose 6 percent to $191 million.

The retailer also raised its full-year earnings forecast, citing higher-than-expected sales. The company now expects sales of 7 cents to 9 cents per share compared with the 3 cents to 5 cents per share it previously called for.

The company releases third-quarter results November 19.