Cato Reports August Same Store Sales +2%
The Cato Corporation (NYSE: CATO) today reported sales for the four weeks ended August 25, 2012 of $62.1 million, a 2% increase over sales of $60.6 million for the four week period ended August 27, 2011. Same-store sales in August were flat to the prior year.
Sales for the thirty weeks ended August 25, 2012 were $566.4 million, flat to sales of $565.7 million for the thirty weeks ended August 27, 2011. The Company's year-to-date same-store sales decreased 2%.
"August same-store sales were within our range of expectations and given the continuing economic and political situation, we remain cautious in regard to the remainder of the year," commented John Cato, Chairman, President, and Chief Executive Officer.
During the month of August, the Company opened new stores in Mobile, AL; Woodhaven, MI and Norfolk, VA. The Company also relocated a store in Port St. Lucie, FL. As of August 25, 2012, the Company operated 1,298 stores in 31 states, compared to 1,285 stores in 31 states as of August 27, 2011.
The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato," "Versona" and "It's Fashion." The Company's