Cato Q3 earnings increase 18 percent

REPORT_ The Cato Corporation reported net income of 5.7 million dollars for the third quarter ended November 1, 2014, compared to net income of 4.9 million dollars for the third quarter ended November 2, 2013, an increase of 16 percent. Earnings per diluted share for the third quarter were 0.20 dollars, compared to 0.17 dollars last year, an increase of 18 percent. Sales for the third quarter ended November 1, 2014 were 213.8 million dollars, an 8 percent increase over sales of 198.8 million dollars for the third quarter ended November 2, 2013. Same-store sales for the quarter increased 4 percent.

For the nine months ended November 1, 2014, the Company earned net income of 51.4 million dollars, compared to net income of 50.5 million dollars for the nine months ended November 2, 2013, an increase of 2 percent. Earnings per diluted share were 1.82 dollars compared to 1.73 dollars last year, an increase of 5 percent. Sales for the nine months ended November 1, 2014 were 740 million dollars, an increase of 6 percent from sales of 695.3 million dollars for the nine months ended November 2, 2013. Year-to-date same-store sales increased 3 percent.