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Cato reports comp store sales down 6%

06 Dec '07

1 min read

The Cato Corporation reported sales for the four weeks ended December 1, 2007 of $58.4 million, a decrease of 4% from sales of $60.9 million for the four week period ended November 25, 2006. Comparable store sales for the month decreased 6%.

Sales for the ten months ended December 1, 2007 were $683.4 million, a decrease of 1% from sales of $693.0 million for the ten months ended November 25, 2006. The Company's year-to-date comparable store sales decreased 4%.

"November comp store sales were in line with our recently revised expectations," stated John Cato, Chairman, President, and Chief Executive Officer.

In November, the Company opened eight stores, relocated two stores and closed one store. New stores opened in Snellville, GA, Denham Springs, LA, Pontotoc, MS, Grand Island, NE, Leray, NY, Charlotte, NC, Collegedale, TN and Tyler, TX.

The relocated stores are in Rock Hill, SC and Tyler, TX. The Leray, NY store is the Company's first in the state of New York, its 32nd state of operation.

As of December 1, 2007, the Company operated 1,328 stores in 32 states, compared to 1,278 stores in 31 states as of November 25, 2006.

The Cato Corporation

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