Cato Corp. sales flat in May
Cato Corp. today said its May sales were $80.7 million, flat compared with the same month last year.
But same-store sales were down 3 percent over the same period.
“May same-store sales were below expectations and we remain cautious given the continuing economic uncertainty,” President John Cato said in a statement.
Sales for the 17 weeks that ended Saturday were $351.7 million, a 4 percent increase over sales of $339.8 million for the 17 weeks that ended May 29, 2010.
Year-to-date same-store sales increased 1 percent.
In May, Cato opened four stores and closed two. As of May 28, Cato operated 1,284 stores in 31 states, up from 1,273 stores in 31 states as of May 29, 2010.