- Prachi Singh |
The Cato Corporation reported sales for the four weeks ended February 1, 2020 of 44.2 million dollars, down 1 percent compared to 44.5 million dollars for the four week period ended February 2, 2019, while same-store sales for January were up 1 percent compared to the four weeks ended February 2, 2019.
“January same store sales were below our current trend,” stated John Cato, the company’s Chairman, President, and Chief Executive Officer in a statement.
Sales for fiscal fourth quarter ended February 1, 2020 were 188.2 million dollars, a decrease of 1 percent from sales of 190.4 million dollars for the same quarter ended February 2, 2019. For the quarter, same-store sales increased 1 percent to last year. For the year, the company’s sales decreased 1 percent to 816 million dollars from 2019 sales of 821.2 million dollars. For the year, same-store sales increased 2 percent over last year.
During January, the company opened one store in Florida and closed one store. During the fourth quarter, the company opened five stores and closed 22 stores. For the fiscal year ended February 1, 2020, the company opened five stores and closed 35 stores and as of February 1, 2020, operated 1,281 stores in 31 states, compared to 1,311 stores in 31 states as of February 2, 2019.