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Women's fashion retailer $CATO today reported sales for the four weeks ended Nov. 28, 2015 of $76MM, up 3% over sales of $73.8MM for the four-week period ended Nov. 29, 2014. Same-store sales for the month were up 1% to the prior year. Sales for the 10 months ended Nov. 28, 2015 were $830.1MM, up 2% from $813.8MM in the same period a year earlier.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."