Cato Corp. (CATO) Reports Flat June Comps

The Cato Corporation (NYSE: CATO) today reported sales of $72.9 million for the five weeks ended July 7, 2018, a 2% decrease from sales of $74.7 million for the five weeks ended July 1, 2017. Same-store sales for the five weeks ended July 7, 2018 was flat compared to the five weeks ended July 8, 2017. June 2018 same-store sales are compared to the five week period ended July 8, 2017 due to the 53rd week in fiscal 2017.

Sales for the twenty-two weeks ended July 7, 2018 were $386.2 million, flat from sales of $386.5 million for the twenty-two weeks ended July 1, 2017. The Company's year-to-date same-store sales increased 1% compared to last year. The twenty-two weeks same-store sales are compared to the twenty-two week period ended July 8, 2017 due to the 53rd week in fiscal 2017.

"June same-store stores were slightly below our expectations," stated John Cato, Chairman, President, and Chief Executive Officer.

During the month of June, the Company closed one store in Guthrie, OK. As of July 7, 2018, the Company operated 1,350 stores in 33 states, compared to 1,374 stores in 33 states as of July 1, 2017.

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