Assortment missteps at Cato lead to sales plunge

|About: The Cato Corporation (CATO)|By:, SA News Editor

Cato (NYSE:CATO) reports sales fell 22% in March to $93.2M.

Same-store sales for the month decreased 21%.

"We expect current sales headwinds to continue as we work through our merchandise assortment missteps," says CEO John Cato.

"In addition, March sales were negatively impacted by the shift of Easter from March last year to April this year," he adds.

The company ended the quarter with 1,373 stores, up 2 Y/Y.

Source: Press Release

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