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million, or 64 cents per diluted from $16.9 million, or 57 centsd per diluted share, a year ago. Revenue rose 5 percenrt to $238.1 million from $225.8 millionn a year earlier. Sales at storesd in operation for at least a year increasedd3 percent. The fiscal quarter ended May 2. “Saled and markdowns for the first quarter were bette than expected and resulted in higherdmerchandise margin,” says John Cato, chiedf executive. Cato says it expects customers’ discretionart spending to remain limited in theseconds quarter.
As a comparable-store sales will range between flat and down 3 perceng forthe period, the retailer The company estimates its second-quarted earnings per diluted share will be betwee n 48 cents and 54 cents, up from 41 cents a year ago. Duringh the latest quarter, the company openes eight stores and closed four As ofMay 2, Charlotte-based Cato operated 1,285 women’s appare stores in 31 states.
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