- Prachi Singh |
The Cato Corporation’s sales for the four weeks ended August 31,2019 of 56.7 million dollars, rose 1 percent compared to sales for the four week period ended September 1, 2018, while same-store sales in August were up 3 percent.
“August same-store sales exceeded our expectations,” commented John Cato, Chairman, President, and Chief Executive Officer of the company, adding, “We continue to be encouraged by our current trend; however, we remain cautiously optimistic about the rest of the year given the difficult retail environment and the impact of the new tariffs.”
The company said in a statement that sales for the thirty weeks were 494.8 million dollars, down 1 percent, while year-to-date same-store sales increased 2 percent.
As of August 31, 2019, the company operated 1,299 stores in 31 states, compared to 1,350 stores in 33 states as of September 1, 2018.