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Negative sales trends continue for Cato

Mar. 16, 2017 7:05 AM ETThe Cato Corporation (CATO) StockBy: Clark Schultz, SA News Editor
  • Cato (NYSE:CATO) reports same-store sales fell 12% in Q4. Total sales were down by the same rate to $218.2M.
  • The company says online sales at other retailers cut into store traffic and mistakes with merchandise assortment led to liquidaiton sales.
  • Gross margin plummeted during the quarter to 28.8% of sales, from 36.1% a year ago.
  • "We expect our negative sales trends to continue through the quarter and expect our first quarter earnings to be significantly below last year," notes John Cato.

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