Cato revenue comparison rises 2 percent in August, total revenue rises 5 percent
By APThursday, September 2, 2010
Cato August revenue comparison rises 2 percent
CHAROLOTTE, N.C. — Women’s clothing seller The Cato Corp. said Thursday that revenue in stores open at least one year rose 2 percent in August.
Total sales for the four weeks ended Aug. 28 rose 5 percent to $61.9 million.
Year-to-date, revenue in stores open at least one year rose 4 percent and total revenue rose 6 percent to $553.5 million.
Revenue at stores open at least a year is a key indicator of a retailer’s performance because it excludes growth at stores that open or close during the year.
The company, based in Charlotte, N.C., opened five new stores and closed three during the month.
At the end of AUgust, the company had 1,277 stores in 31 states, down from 1,289 stores in 31 states last year.
