(CHARLOTTE) -- The Cato Corporation reported sales for the five weeks ended January 1, 2011 of $106.6 million. This compared to sales of $104 million for the similar period a year ago. Same-store sales for the month were flat when compared to the prior year.

Sales for the Charlotte-based discount women's apparel retailer in the eleven months ended January 1, 2011 were $862 million, a 5% increase over sales of $820 million for the eleven months ended January 2, 2010. The Company's year-to-date same-store sales increased 4% over the prior year.
 
"December same-store sales results were impacted by a difficult comparison to the prior year," said John Cato, Chairman, President, and Chief Executive Officer. "We now estimate our fourth quarter earnings per diluted share will be toward the lower end of our original guidance range of $0.25 to $0.28 versus $0.25 last year. The Company's estimate for the full year earnings per diluted share is also at the lower end of the range of $1.94 to $1.97 vs. $1.55 last year, an increase of 25% to 27%."