The Cato Corporation reported sales for the four weeks ended November 30, 2013 of $67.3 million, a 4% increase over sales of $64.9 million for the four week period ended November 24, 2012. Same-store sales for the month were flat to the prior year.
Sales for the ten months ended November 30, 2013 were $762.6 million, a 1% decrease from sales of $766.7 million for the ten months ended November 24, 2012. The Company's year-to-date same-store sales decreased 3%.
"November same-store sales were in line with expectations," stated John Cato, Chairman, President, and Chief Executive Officer. "We continue to expect that the remainder of the holiday shopping season and fourth quarter will be difficult."
In November, the Company opened 10 new stores and relocated one store. New stores opened in Athens, GA, Wichita, KS, Lincoln, NE, Fayetteville, NC, Fremont, OH, Lawton, OK, Hanover and Muncy, PA, Mt. Juliet, TN and Arlington, TX.
The relocated store was in Lafayette, LA. The Company also launched its online shopping website during November. As of November 30, 2013, the Company operated 1,328 stores in 32 states, compared to 1,312 stores in 31 states as of November 24, 2012.
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 Cato stores offer exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day. Versona is a unique fashion destination offering accessories and apparel including jewelry, handbags and shoes at exceptional prices every day.