The Cato Corporation reported sales of $92.0 million for the five weeks ended July 5, 2014, a 7% increase over sales of $86.1 million for the five weeks ended July 6, 2013. Same-store sales for the five-week period increased 3%.
Sales for the twenty-two weeks ended July 5, 2014 were $460.9 million, up 6% over sales of $435.0 million for the twenty-two weeks ended July 6, 2013. The Company's year-to-date same-store sales increased 3%.
"June same-store sales were in line with our year-to-date trend," commented John Cato, Chairman, President, and Chief Executive Officer.
During the month of June, the Company opened three stores and relocated one store. New stores opened in Mason City, IA, State College, PA and Richmond, VA. The relocated store is in Charleston, SC. As of July 5, 2014, the Company operated 1,328 stores in 32 states, compared to 1,306 stores in 31 states as of July 6, 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.