Cato Corp. (CATO) Comps Fell 1% in March 2016

The Cato Corporation (NYSE: CATO) reported sales for the five weeks ended April 2, 2016 of $118.8 million, a 2% increase from sales of $117.0 million for the five week period ended April 4, 2015. Same-store sales for the month decreased 1%.

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

March sales were impacted by the shift of Easter from early April last year to mid-March this year. Because of this shift, the best measure for performance is the combined sales for the two months.

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

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 in 32 states as of April 4, 2015.

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