Cato Corp. reports March SSS up 6%
Cato Corporation reported sales for the five weeks ended April 7, 2018 of $96.9M, a 4% increase over sales of $93.1M for the five week period ended April 1, 2017. Same-store sales for the five weeks ended April 7 increased 6% from the five weeks ended April 8, 2017. "March sales were positively impacted by the shift of Easter from April last year to March this year," stated John Cato, Chairman, President, and CEO. "Due to this shift, the best way to measure our performance is by combining sales for the two months. We expect April same-store sales to be in the high negative single digits and the combined two months' same-store sales to be in the low negative single digits." As of April 7, 2018, the company operated 1,351 stores in 33 states, compared to 1,373 stores in 33 states as of April 1, 2017.