Cato Corp. (CATO) February Comps Fall 25%
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Cato Reports February Same-Store Sales Down 25%
March 2, 2017 7:00 AM ESTCHARLOTTE, N.C., March 2, 2017 /PRNewswire/ -- The Cato Corporation (NYSE: CATO) today reported sales for the four weeks ended February 25, 2017 of $63.9 million, a 25% decrease over sales of $84.7 million for the four week period ended February 27, 2016. Same-store sales for the month decreased 25% from the prior year.
"Unfortunately, February sales continued to decline and were significantly lower due to delayed tax refunds," stated John Cato, Chairman, President, and Chief Executive Officer. Â
As of February 25, 2017, the Company operated 1,371 stores in 33 states, compared to 1,372 stores in 32 states as of February 27, 2016.
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