Cato sales rise 2 percent in March

The Cato Corporation has reported sales of 118.8 million dollars, a 2 percent increase for the five weeks ended April 2, 2016 from sales of 117 million dollars for the five week period ended April 4, 2015. Same-store sales for the month decreased 1 percent.

“We continue to expect first quarter earnings per diluted share to be in the range of 1.12 dollars to 1.16 dollars," said John Cato, Chairman, President, and Chief Executive Officer.

Sales for the nine weeks ended April 2, 2016 were 203.6 million dollars, a 3 percent increase from sales of 197.5 million dollars for the nine weeks ended April 4, 2015. The company's year-to-date same-store sales were up 1 percent to the prior year.

The company said that March sales were impacted by the shift of Easter from early April last year to mid-March this year. During the month of March, the company relocated one store and closed one store. As of April 2, 2016, the company operated 1,371 stores in 32 states, compared to 1,349 stores as of April 4, 2015.