Cato May Comps Down 2%, Below Expectations - Quick Facts

(RTTNews) - Cato Corp. (CATO), a specialty retailer of fashion apparel and accessories, reported Thursday that its reported sales for the month of May declined 1 percent to $87.4 million from sales of $88.5 million last year. Same-store sales for the four weeks were down 2 percent to last year.

John Cato, Chairman, President, and Chief Executive Officer stated that May same store sales were below expectations.

Sales for the seventeen weeks ended May 28 were $372.9 million, a 1 percent increase from the prior year, while year-to-date same-store sales decreased 1 percent.

As of May 28, 2016, the Company operated 1,372 stores in 33 states, compared to 1,353 stores in 32 states as of May 30, 2015.