By  on August 25, 2009

Lower expenses and controls on costs helped Cato Corp. improve on second-quarter profits despite a drop-off in sales.

The Charlotte, N.C.-based specialty retailer registered net income of $16.7 million, or 56 cents a diluted share, 37.8 percent above the $12.1 million, or 41 cents, logged in last year’s quarter and 2 cents above analysts’ consensus estimates.

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