Cato Corp. exceeded third-quarter expectations after its October sales received a lift. Net income increased 4.6 percent to $4.9 million, or 17 cents a diluted share, from $4.7 million, or 16 cents, in the 2012 quarter. Analysts, on average, had expected earnings per share of 14 cents.
Revenues expanded 0.5 percent, to $201 million from $200 million. Sales rose 0.6 percent, to $198.8 million from $197.6 million, and were off 1 percent on a same-store basis despite a 3 percent hike in October. Gross margin expanded to 35.2 percent of sales from 34 percent a year ago, principally on improvement in merchandise margins.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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