Cato Corp. (CATO) Comps Fell 10% in Nov.
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The Cato Corporation (NYSE: CATO) reported sales for the four weeks ended November 26, 2016 of $68.2 million, a 10% decrease from sales of $76.0 million for the four week period ended November 28, 2015. Same-store sales for the month were down 10% to the prior year.
Sales for the ten months ended November 26, 2016 were $797.4 million, a 4% decrease from sales of $830.1 million for the ten months ended November 28, 2015. The Company's year-to-date same-store sales decreased 5%.
"November same-store sales were consistent with our current trend," stated John Cato, Chairman, President, and Chief Executive Officer, "and we remain cautious for the rest of the fourth quarter."
In November, the Company opened two new stores and relocated one store. New stores opened in Greenville, OH and Chillicothe, OH. The relocated store was in Fairfield, AL. As of November 26, 2016, the Company operated 1,374 stores in 33 states, compared to 1,373 stores in 32 states as of November 28, 2015.
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