Cato sales in May decline 15 percent

The Cato Corporation reported sales of 74.2 million dollars for the four weeks ended May 27, 2017, a 15 percent decrease versus sales of 87.4 million dollars for the four weeks ended May 28, 2016. Same-store sales for the month were down 16 percent to last year.

"Our negative sales trends persisted throughout May as we continued to work through our merchandise assortment missteps," stated John Cato, the company's Chairman, President, and Chief Executive Officer in press release.

Sales for the seventeen weeks were 311.9 million dollars, a 16 percent decrease versus 372.9 million dollars for the same period ended May 28, 2016. The company's year-to-date same-store sales decreased 17 percent.

During the month of May, the company relocated one store in Lafayette, LA and closed one store. As of May 27, 2017, the company operated 1,373 stores in 33 states, compared to 1,372 stores in 33 states as of May 28, 2016.

Picture:Cato Fashions website