The Cato Corporation reported sales of $86.4 million for the four weeks ended May 31, 2014, a 6% increase versus sales of $81.7 million for the four weeks ended June 1, 2013. Same-store sales for the month increased 3%.
Sales for the seventeen weeks ended May 31, 2014 were $368.9 million, a 6% increase versus sales of $348.9 million for the seventeen weeks ended June 1, 2013. The Company's year-to-date same-store sales increased 3%.
"May sales continued our recent trend," stated John Cato, the Company's Chairman, President, and Chief Executive Officer. "However, we continue to expect the remainder of the year will be in line with our original guidance."
During the month of May, the Company opened two stores and closed one store. New stores opened in Winter Park, FL and Odessa, TX. As of May 31, 2014, the Company operated 1,325 stores in 32 states, compared to 1,307 stores in 31 states as of June 1, 2013.
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. It's Fashion offers fashion with a focus on the latest trendy styles for the entire family at low prices every day.