Cato (CATO) Comps Fell 3% in February
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Cato Corp. (NYSE: CATO) reported sales for the four weeks ended March 2, 2013 of $84.7 million, a 1% increase over sales of $83.9 million for the four week period ended February 25, 2012. Same-store sales for the month decreased 3% from the prior year.
"February sales reflect the continuing difficult economic environment. We did see some beneficial impact from the delay in tax refunds from January," stated John Cato, Chairman, President, and Chief Executive Officer.
During February, the Company closed four stores. As of March 2, 2013, the Company operated 1,306 stores in 31 states, compared to 1,287 stores in 31 states as of February 25, 2012.
"February sales reflect the continuing difficult economic environment. We did see some beneficial impact from the delay in tax refunds from January," stated John Cato, Chairman, President, and Chief Executive Officer.
During February, the Company closed four stores. As of March 2, 2013, the Company operated 1,306 stores in 31 states, compared to 1,287 stores in 31 states as of February 25, 2012.
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