- Prachi Singh |
The Cato Corporation, for five weeks ended April 6, 2019 reported revenues of 87.4 million, a 10 percent decrease from the five week period last year. The company’s same-store sales for the month decreased 7 percent.
"March sales were negatively impacted by the shift of Easter from March last year to April this year," said John Cato, Chairman, President, and CEO of the company in a statement, adding, "Because of this shift, the best measure for performance is the combined sales for the two months."
Sales for the nine weeks were 146.5 million dollars, down 11 percent, while the company's year-to-date same-store sales were down 8 percent to the prior year.
During the month of March, the company closed two stores and as of April 6, operated 1,306 stores in 31 states, compared to 1,351 stores in 33 states as of April 7, 2018.
Picture:Cato Fashions website