Cato’s March same-store sales Up 5%

Cato Corporation has reported sales for the five weeks

ended March 31, 2012, of $103.9 million, an 7% increase over sales of $97.4 million for the five week period ended April 2, 2011. Same-store sales for the month increased 5%.

Sales for the nine weeks ended March 31, 2012, were $187.9 million, a 2% increase over sales of $183.6 million for the nine weeks ended April 2, 2011. The company's year-to-date same-store sales were flat to the prior year. March sales were favorably impacted by the shift of Easter to early April this year versus late April last year. Cato expects April sales will be unfavorably impacted. Because of this shift, the best measure for performance is the combined sales for the two months.

"In addition to the impact of the Easter shift, March sales benefited from warmer weather and the delayed flow of tax refunds," said John Cato, Chairman, President, and Chief Executive Officer. "We continue to expect earnings per diluted share for the first quarter will be in the range of $1.04 to $1.09 vs. $1.04 last year."

During the month of March, the company opened five stores. Stores opened in Marietta, GA, Branson and Eureka, MO, Eden, NC and Mentor, OH. As of March 31, 2012, the company operated 1,292 stores in 31 states, compared to 1,282 stores in 31 states as of April 2, 2011.

Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato", "Versona" and "It's Fashion".