Cato March same-store sales down 5 percent

REPORT_ The Cato Corporation reported sales for the five weeks ended April 5, 2014 to 102 million dollars, a 3 percent decrease from sales of

105.6 million dollars for the five week period ended April 6, 2013. Same-store sales for the month decreased 5 percent.

Sales for the nine weeks ended April 5, 2014 were 188.9 million dollars, a 1 percent decrease from sales of 190.2 million dollars for the nine weeks ended April 6, 2013. The Charlotte, N.C.-based company's year-to-date same-store sales were down 2 percent to the prior year.

March sales were unfavorably impacted by the shift of Easter from late March last year to mid-April this year. Company expects April sales will be favorably impacted. “We continue to expect first quarter earnings per diluted share will be in the range of 0.89 dollars to 0.95 dollars," saidJohn Cato, Chairman, President, and Chief Executive Officer.

During the month of March, the company opened stores in Conyers, GA and Kalamazoo, MI. As of April 5, 2014, it operated 1,322 stores in 32 states, compared to 1,305 stores in 31 states as of April 6, 2013.