High quality at reasonable prices has been a successful formula for a Charlotte ladies' clothing firm that even publishes its own fashion magazine.
Cato Corporation (NYSE: CTR) operates women's fashion specialty retail stores in the southeastern United States. It offers an assortment of apparel and accessories, including sportswear, dresses, coats, shoes, lingerie, costume jewelry, and handbags. The company operates 1,301 retail stores under the names Cato, It's Fashion!, Cato Fashions and Cato Plus. The stores are located primarily in strip shopping centers anchored by national discounters, or market-dominant grocery stores.
The firm surprised the Street last week, when it boosted its Q2 EPS guidance from 27-31 cents to 35-37 cents. Analysts had been expecting 29 cents. Management also announced June same store sales results that topped analyst expectations.
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