- Prachi Singh |
The Cato Corporation reported sales for the five weeks ended October 6, 2018 of 69.4 million dollars, down 1 percent compared to sales of 69.8 million dollars for the five week period ended September 30, 2017. Same-store sales in September were down 1 percent.
"September same-store sales were below our expectations," said John Cato, the company’s Chairman, President, and CEO in a statement, adding, "However, same-store sales in September had a slight negative impact from the net result of Hurricane Florence this year offset by Hurricane Irma last year both causing business disruption and closed stores."
The company said, sales for the thirty-five weeks ended October 6, 2018 were 568.7 million dollars, flat compared to sales of 568.7 million dollars for the thirty-five weeks ended September 30, 2017, while same-store sales increased 1 percent.
As of October 6, 2018, the company operated 1,350 stores in 33 states, compared to 1,369 stores in 33 states as of September 30, 2017.