- Prachi Singh |
REPORT_ The Cato Corporation said that sales for the four weeks ended November 29, 2014 were of 73.8 million dollars, a 10 percent increase over sales of 67.3 million dollars for the four week period ended November 30, 2013. Same-store sales for the month were up 7 percent to the prior year.
Sales for the ten months ended November 29, 2014 were 813.8 million dollars, a 7 percent increase from sales of 762.6 million dollars for the ten months ended November 30, 2013. The company's year-to-date same-store sales increased 4 percent.
“November same-store sales were above expectations,” stated John Cato, Chairman, President, and Chief Executive Officer, “However, we remain cautious for the rest of the holiday shopping season and fourth quarter.”
In November, the company opened five new stores and relocated two stores. New stores opened in West Palm Beach and Jacksonville, FL, Lansing and Norton Shores, MI and Tyler, TX. The relocated stores were in Union, SC and Danville, VA. As of November 29, 2014, the company operated 1,348 stores in 32 states, compared to 1,328 stores in 32 states as of November 30, 2013.