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Cato Corp. posts improved 4Q results

Charlotte-based clothing retailer Cato Corp. posted improved fourth-quarter financial results today.

The company recorded net income of $7.9 million, or 27 cents per share, during the fourth quarter. During the same period one year earlier, Cato had net income of $7.3 million, or 25 cents per share.

The company said sales for the quarter, which ended Jan. 29, were $224.3 million, up 3 percent over sales of $217.7 million for the year-ago quarter.

Also today, the company reported results for 2010, saying net income was a record $57.7 million, or $1.96 per share, compared with $45.8 million, or $1.55 per share, for 2009.

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