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Cato reports May comparable store sales up 2%
07 Jun '07
1 min read
The Cato Corporation reported sales of $75.9 million for the four weeks ended June 2, 2007, a 3% increase over sales of $73.8 million for the four weeks ended May 27, 2006. Comparable store sales for the month increased 2%.
Sales for the seventeen weeks ended June 2, 2007 were $300.1 million, a 1% decrease from sales of $303.5 million for the seventeen weeks ended May 27, 2006. The Company's year-to-date comparable store sales decreased 3%.
"The increase in May sales was driven by markdowns," commented John Cato, the Company's Chairman, President, and Chief Executive Officer. "As a result of the markdown sales, inventory levels have improved."
During the month of May, the Company opened four new stores in Salem, IL, Farmerville, LA, and Forest, MS (two stores). Also during May, the Company relocated its store in Batesburg, SC. As of June 2, 2007, the Company operated 1,290 stores in 31 states, compared to 1,251 stores in 31 states as of May 27, 2006.
Sales for the seventeen weeks ended June 2, 2007 were $300.1 million, a 1% decrease from sales of $303.5 million for the seventeen weeks ended May 27, 2006. The Company's year-to-date comparable store sales decreased 3%.
"The increase in May sales was driven by markdowns," commented John Cato, the Company's Chairman, President, and Chief Executive Officer. "As a result of the markdown sales, inventory levels have improved."
During the month of May, the Company opened four new stores in Salem, IL, Farmerville, LA, and Forest, MS (two stores). Also during May, the Company relocated its store in Batesburg, SC. As of June 2, 2007, the Company operated 1,290 stores in 31 states, compared to 1,251 stores in 31 states as of May 27, 2006.
The Cato Corporation
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