Cato Corp. (CATO) reported sales of $84.9 million for the four weeks ended April 28, 2012, a 3% decrease from sales of $87.3 million for the four weeks ended April 30, 2011. Same-store sales decreased 6% for the month.
Sales for the first quarter ended April 28, 2012 were $272.8 million, a 1% increase over sales of $270.9 million for the first quarter ended April 30, 2011. Same-store sales for the first quarter dropped 2%.
According to the company, April sales were unfavorably impacted by the shift of a portion of Easter sales to March this year versus April last year, while March sales were favorably impacted. Because of this shift, the best measure for performance is the combined sales for the two months, which increased 2% overall and were flat to the prior year on a same store basis.
Click here to receive FREE breaking news email alerts for Cato Corp. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org