Cato Fashions: November same-store sales drop 6 percent

The Cato Corporation said that its sales for the four weeks ended December 1, 2018 of 59.4 million dollars, were down 4 percent, while same-store sales for the month decreased 6 percent.

"November same-store sales were disappointing and below our expectations," said John Cato, the company’s Chairman, President, and Chief Executive Officer in a statement.

The company added that sales for the ten months ended December 1, 2018 were 690.2 million dollars, flat compared to sales of 693.2 million dollars for the ten months ended November 25, 2017 and the company's year-to-date same-store sales also remained flat.

During the month of November, the company closed one store in Houston, TX and as of December 1, 2018, operated 1,349 stores in 33 states, compared to 1,370 stores in 33 states as of November 25, 2017.

Picture:Cato Fashions website