Cato Fashions posts flat sales growth in October

The Cato Corporation reported sales for the four weeks ended November 3, 2018 of 62.1 million dollars, flat compared to sales of 62.3 million dollars for the four week period ended October 28, 2017. Same-store sales for the month decreased 1 percent.

"October same-store sales were below our expectations," said John Cato, the company’s Chairman, President, and Chief Executive Officer in a media statement, adding, "However, same-store sales in October had a slight negative impact from Hurricane Michael causing business disruption and closed stores."

Sales for the third quarter ended November 3, 2018 were 187.9 million dollars, flat compared to 188.4 million dollars for the third quarter ended October 28, 2017. Same-store sales for the third quarter increased 1 percent.

Sales for the thirty-nine weeks, the company said, were 630.8 million dollars, again flat compared to 631 million dollars for the thirty-nine weeks ended October 28, 2017 and the company's year-to-date same-store sales increased 1 percent.

As of November 3, 2018, the company operated 1,350 stores in 33 states, compared to 1,370 stores in 33 states as of October 28, 2017.

Picture:Cato Fashions website