Boston, MA 09/05/2014 (wallstreetpr) – According to reports, Cato Corp (NYSE:CATO) has announced that its same-store sales of four weeks ended on August 30, 2014 increased 3%. CATO has not only performed well in terms of same-store sales, but also in terms of overall sales as well. According to data revealed by the company, the total sales for the four weeks period ended on August 30, 2014 was $63.6 million, 7% more than the sales for a four-week period ended on August 30, 2013.
Other Financial Figures:
Cato Corp (NYSE:CATO) has been witnessing one of the best years after a long time. When it comes to the sales of thirty weeks ended on August 30, 2014, it performed extremely well. A total sale for that period was $589.8 million in comparison to the $555.8 million sales for thirty weeks period ended on August 30, 2013. Sales grew at a rate of 6% YOY. The reason behind this surge in sales was excellent service and product quality of Cato Corp (NYSE:CATO). It experienced a flat rate in terms of same-store sales that grew at a rate of 3% on YOY basis.
According to John Cato, President, Chairman and CEO of Cato Corp (NYSE:CATO), “We have witnessed 3% hike in same-store sales in the month of August, but if compared with past months, then it’s a consistent performance.” He further added that although CATO had done well in the previous months, but it did not want to end up on a sad note; hence, the company would act cautiously for the rest of the year.
August 2014 was very special for the company as it opened new stores in several new locations like Panama City, FL, Osage Beach, MO, Dubuque and Sioux City, IA, McAlester and Tulsa, OK and Charlotte, NC. It had total 1,334 stores running in 32 states as of August 30, 2014 in comparison to 1,309 stores in 32 states on August 31, 2013.
