Charlotte, N.C. The Cato Corp. reported sales for the four weeks ended Nov. 29 of $60.6 million, an increase of 4% over sales of $58.4 million for the four-week period ended Dec. 1, 2007. Comparable-store sales for the month increased 2%.
Sales for the 10 months ended Nov. 29 were $697.2 million, an increase of 2% over sales of $683.4 million for the 10 months ended Dec. 1, 2007. The company's year-to-date comparable-store sales decreased 1%.
"Although November sales were better than expected, we continue to estimate fourth-quarter comp-store sales to be in our previous guidance range of down 3% to flat," stated John Cato, chairman, president, and CEO.
In November, Cato opened four stores, relocated two stores and closed one store. New stores opened in Derby, Kan., Dumas and Houston, Texas and Richmond, Va. The relocated stores were in Elkin, N.C. and Marion, S.C.