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Cato February same-store sales drop 3 percent

By Prachi Singh

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Business

The Cato Corporation reported sales for the four weeks ended February 29, 2020 of 57.3 million dollars, a 3 percent decrease compared to the same period last year, while same-store sales for the month decreased 3 percent from the prior year.

“February same store sales were below our expectations,” stated John Cato, the company’s Chairman, President, and Chief Executive Officer in a statement.

During the month of February, the company opened 15 stores, relocated one store and closed two. As of February 29, 2020, the company operated 1,294 stores in 31 states, compared to 1,308 stores in 31 states as of March 2, 2019.

Picture:Cato Fashions website

Cato Corporation
Cato Fashions