Cato Reports June Same-Store Sales Up 1%

CHARLOTTE, N.C., July 8 /PRNewswire-FirstCall/ -- The Cato Corporation Sales for the twenty-two weeks ended July 3, 2010 were $428.9 million, a 6% increase over sales of $403.0 million for the twenty-two weeks ended July 4, 2009. The Company's year-to-date same-store sales increased 5%. 'June same-store sales were slightly above expectations but we remain cautious due to the continuing uncertain economic outlook,' commented John Cato, Chairman, President, and Chief Executive Officer. 'With higher than expected second quarter same-store sales, we now estimate second quarter earnings per diluted share will be in the range of $.47 to $.50 versus our original