Cato cites favorable sales trends

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

Cato (NYSE:CATO) reports sales fell 11% in April to $71.8M. A calendar shift pulled some typical April sales into March.

Comparable sales were down 6% during the month.

Q1 sales were down 1% to $236M. Comparable sales were also down 1% for the full quarter.

"We are starting to see more favorable sales trends and remain cautiously optimistic about our ability to build upon this improvement in the second quarter," says CEO John Cato.

The retailer is due to disclose full Q1 numbers on May 24.

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