Cato Fashions' April same-store sales fall 6 percent

The Cato Corporation has reported sales of 71.8 million dollars for the four weeks ended May 5, 2018, an 11 percent decrease over the same period last year, while same-store sales decreased 6 percent.

"We are starting to see more favourable sales trends and remain cautiously optimistic about our ability to build upon this improvement in the second quarter," stated John Cato, the company’s Chairman, President, and Chief Executive Officer in a media statement.

Sales for the first quarter ended May 5, 2018 were 236 million dollars, a 1 percent decrease over the first quarter of 2017, while same-store sales also decreased 1 percent compared to last year.

The company said, April sales were impacted by the shift of Easter from April last year to March this year. Because of this shift, the best measure for sales performance is the combined sales for the two months, which decreased 3 percent overall but increased 1 percent to the prior year on a same-store basis for the nine weeks ended May 5, 2018.

Picture:Facebook/Cato Fashions