Cato August same-store sales down 8 percent

The Cato Corporation reported sales for the four weeks ended August 27, 2016 of 62 million dollars, a 7 percent decrease over sales of 67 million dollars for the four week period ended August 29, 2015. Same-store sales in August were down 8 percent to the prior year.

"August same-store sales continued our negative trend and remain well below our expectations," commented John Cato, Chairman, President, and Chief Executive Officer.

Sales for the thirty weeks ended August 27, 2016 were 584.1 million dollars, down 2 percent to sales of 597.7 million dollars for the thirty weeks ended August 29, 2015. The Company's year-to-date same-store sales decreased 4 percent.

As of August 27, 2016, the company operated 1,373 stores in 33 states, compared to 1,363 stores in 32 states as of August 29, 2015.

Picture:Cato Fashion