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Cato Corporation March comp store sales fall 4%, sales flat

06 Apr '06

2 min read

Fashion retailer The Cato Corporation has reported sales for the five weeks ended April 1st 2006 of $83.8 million, flat to sales of $83.4 million for the five week period ended April 2nd 2005.

Comparable store sales for the month decreased 4 percent.

Sales for the nine weeks ended April 1st 2006 were $148.0 million, flat to sales of $147.9 million for the nine weeks ended April 2nd 2005. The company's year-to-date comparable store sales decreased 5 percent.

March sales were unfavorably impacted by the shift of Easter to April 16 this year versus March 27 last year. April sales are expected to be favorably impacted by this shift. As a result, the combined sales for March and April will be the best measure for evaluating performance.

"March sales met expectations, and inventory is fresh and on plan," stated John Cato, Chairman, President, and CEO. "We remain comfortable with our estimated first quarter earnings per diluted share range of $.55 to $.58, a 5 percent decrease to flat to 2005."

During the month of March, the company opened seven new stores and relocated three stores.

The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, 'Cato' and 'It's Fashion!'. It offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day.

The Cato Corporation

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