Cato Reports June Sales
The Company's year-to-date same-store sales decreased 2%.
The Cato Corporation (NYSE: CATO) reported sales of$93.8 millionfor the five weeks endedJuly 4, 2015, a 2% increase over sales of$92.0 millionfor the five weeks endedJuly 5, 2014. Same-store sales for the five-week period were flat to last year.
Sales for the twenty-two weeks endedJuly 4, 2015were$463.9 million, up 1% over sales of$460.9 millionfor the twenty-two weeks endedJuly 5, 2014. The Company’s year-to-date same-store sales decreased 2%.«June same-store sales continue to be in line with our current trend,» commentedJohn Cato, Chairman, President, and Chief Executive Officer.
During the month of June, the Company opened two stores. New stores opened inPortsmouth, VAandDallas, TX. As ofJuly 4, 2015, the Company operated 1,355 stores in 32 states, compared to 1,328 stores in 32 states as ofJuly 5, 2014.
The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, «Cato», «Versona» and «It’s Fashion».