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Cato Corp. (CATO) Dropped On Disappointing Sales Results

Cato Corp. (CATO) announced Thursday that June sales decreased 2 percent from a year ago, to $72.9 million. Same store sales for the month came in flat.

Cato steadily declined during the first 2 hours of trade Thursday, but recovered some ground around midday. The stock closed down by 3.36 at $21.54 on above average volume. Cato sank to a month and a half low.

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