Home / Knowledge / News / Apparel/Garments / Cato same store sales sleep 1%
Cato same store sales sleep 1%
08
Aug '08
The Cato Corporation reported sales of $62.1 million for the four weeks ended August 2, 2008, an increase of 2% over sales of $60.7 million for the four weeks ended August 4, 2007. Comparable store sales for the month decreased 1%.

Sales for the second quarter ended August 2, 2008 were $231.0 million, a 5% increase over sales of $219.0 million for the second quarter ended August 4, 2007. Second quarter comparable store sales increased 2%.

Sales for the first half were $456.7 million, an increase of 3% over the prior year's first half sales of $443.1 million. Comparable store sales for the first half were flat compared to first half 2007.

"Our comparable store sales trend was lower in July than in the past several months," commented John Cato, Chairman, President, and Chief Executive Officer. "We believe the benefit we have received from the stimulus checks has begun to decrease.

As part of our normal review of store performance, we made the decision to close 47 underperforming stores at the end of July. After accruing the costs of closing these stores and incurring significantly higher medical expense, we now expect second quarter earnings per diluted share to be in the range of $.40 to $.42 versus our previous guidance of $.42 to $.44 and $.39 last year."

During the month of July, the Company opened 7 stores and closed 50 stores including three It's Fashion stores closed upon the opening of new It's Fashion Metro stores. New stores opened in Montgomery, AL, Little Rock, AR, Westwego, LA, Durham, NC, Augusta and Rock Hill, SC, and Tyler, TX.

Cato Corporation


Must ReadView All

Maharashtra govt to help textile units set up solar plants

Textiles | On 21st May 2018

Maharashtra govt to help textile units set up solar plants

The state government of Maharashtra has formed a panel to help set up ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives
Textile industry

The foremost issue is bridging the skill gap

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search