- Prachi Singh |
The Cato Corporation reported sales of 86.5 million dollars, down 9 percent for the five weeks ended January 5, 2019. Same-store sales for December were flat compared to the same period last year.
"December same store sales were slightly below our expectations," stated John Cato, Chairman, President, and Chief Executive Officer in a statement.
Sales for the eleven months ended January 5, 2019 were 776.7 million dollars, down 1 percent compared to sales of 787.9 million dollars for the eleven months ended December 30, 2017. The company's year-to-date same-store sales were flat.
The company closed 33 stores in December and as of January 5, 2019, operated 1,316 stores in 33 states, compared to 1,355 stores in 33 states as of December 30, 2017.