Cato May same-store sales rise 3 percent

REPORT_ The Cato Corporation reported sales of 86.4 million dollars for the four weeks ended May 31, 2014, a 6 percent increase versus

sales of 81.7 million dollars for the four weeks ended June 1, 2013. Same-store sales for the month increased 3 percent.

Sales for the 17 weeks ended May 31, 2014 were 368.9 million, a 6 percent increase versus sales of 348.9 million dollars for the seventeen weeks ended June 1, 2013. The Charlotte, N.C.-based company's year-to-date same-store sales increased 3 percent.

“May sales continued our recent trend,” stated John Cato, the company's Chairman, President, and Chief Executive Officer, adding, “However, we continue to expect the remainder of the year will be in line with our original guidance.”

During the month of May, company opened two stores and closed one store. New stores were opened in Winter Park, FL and Odessa, TX. As of May 31, 2014, the company operated 1,325 stores in 32 states, compared to 1,307 stores in 31 states as of June 1, 2013. The Cato Corporation is a retailer of value-priced fashion apparel and accessories operating three concepts, Cato, Versona and It's Fashion.