Cato reports sales rise of 4 percent in November

REPORT_ The Cato Corporation has reported sales for the four

weeks ended November 30, 2013 to 67.3 million dollars, a 4 percent increase over sales of 64.9 million dollars for the four week period ended November 24, 2012. Same-store sales for the month were flat to the prior year.

Sales for the ten months ended November 30, 2013 were 762.6 million dollars, a 1 percent decrease from sales of 766.7 million dollars for the ten months ended November 24, 2012. The Company's year-to-date same-store sales decreased 3 percent.

“November same-store sales were in line with expectations,” stated John Cato, Chairman, President, and Chief Executive Officer, adding, “We continue to expect that the remainder of the holiday shopping season and fourth quarter will be difficult.”

In November, the company opened ten new stores and relocated one store. New stores opened in Athens, GA, Wichita, KS, Lincoln, NE,Fayetteville, NC, Fremont, OH, Lawton, OK, Hanover and Muncy, PA, Mt. Juliet, TN and Arlington, TX. The relocated store was in Lafayette, LA. The Charlotte-based company also launched its online shopping website during the month. As of November 30, 2013, Cato operated 1,328 stores in 32 states.