Cato (CTR) Reports May Same-Store Sales Down 3%
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The Cato Corporation (NYSE: CTR) reported sales of $78.1 million for the four weeks ended May 30, 2009, a decrease of 3% from sales of $80.5 million for the four weeks ended May 31, 2008. Same-store sales for the month decreased 3%.
"May same-store sales were primarily down due to the benefit of stimulus checks last year," commented John Cato, the Company's Chairman, President, and Chief Executive Officer. "We believe the benefit of the stimulus checks last year will continue to have an effect on same-store sales results in June."
"May same-store sales were primarily down due to the benefit of stimulus checks last year," commented John Cato, the Company's Chairman, President, and Chief Executive Officer. "We believe the benefit of the stimulus checks last year will continue to have an effect on same-store sales results in June."
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