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Comparable store sales up at Cato Corporation

05
Dec '08
The Cato Corporation reported sales for the four weeks ended November 29, 2008 of $60.6 million, an increase of 4% over sales of $58.4 million for the four week period ended December 1, 2007. Comparable store sales for the month increased 2%.

Sales for the ten months ended November 29, 2008 were $697.2 million, an increase of 2% over sales of $683.4 million for the ten months ended December 1, 2007. The Company's year-to-date comparable store sales decreased 1%.

"Although November sales were better than expected, we continue to estimate fourth quarter comp store sales to be in our previous guidance range of down 3% to flat," stated John Cato, Chairman, President, and Chief Executive Officer.

In November, the Company opened four stores, relocated two stores and closed one store. New stores opened in Derby, KS, Dumas and Houston, TX and Richmond, VA. The relocated stores were in Elkin, NC and Marion, SC.

As of November 29, 2008, the Company operated 1,308 stores in 31 states, compared to 1,328 stores in 32 states as of December 1, 2007.

The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, "Cato" and "It's Fashion".

Cato Corporation


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