Cato reports 25 percent drop in February same-store sales

The Cato Corporation sales for the four weeks ended February 25, 2017 of 63.9 million dollars, decreased 25 percent over sales of 84.7 million dollars for the same period ended February 27, 2016. Same-store sales for the month decreased 25 percent from the prior year.

"Unfortunately, February sales continued to decline and were significantly lower due to delayed tax refunds," stated John Cato, Chairman, President, and Chief Executive Officer, in a media statement.

As of February 25, 2017, the company operated 1,371 stores in 33 states, compared to 1,372 stores in 32 states as of February 27, 2016.

Picture:Cato Fashions