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Cato exceeds guidance in Q2; scales back store openings
Charlotte, N.C. -- The Cato Corporation reported that net income rose 6% to $15.7 million for the second quarter ended Aug. 2, from $14.8 million last year.
Sales increased 6% to $243.8 million, from $229.4 million last year. Same-store sales increased 3%.
"Second quarter same-store sales were in line with our year-to-date trend," said John Cato, CEO. "However, we continue to expect the second half earnings per diluted share will be within our original guidance range.”
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Baker Katz completes Dave & Buster’s lease in Houston
Houston -- Baker Katz, an X Team International partner, announced that it has completed the lease of a 40,000-sq.-ft. Dave & Buster's in Houston.
Located in the Baybrook Mall expansion project, this will be the third Dave & Buster's location to open in the Houston area.