Cato August same-store sales down 8 percent

The Cato Corporation reported sales for the four weeks ended August 27, 2016 of 62 million dollars, a 7 percent decrease over sales of 67 million dollars for the four week period ended August 29, 2015. Same-store sales in August were down 8 percent to the prior year.

"August same-store sales continued our negative trend and remain well below our expectations," commented John Cato, Chairman, President, and CEO.

Sales for the thirty weeks were 584.1 million dollars, down 2 percent to sales of 597.7 million dollars for the thirty weeks ended August 29, 2015. The company's year-to-date same-store sales decreased 4 percent.

As of August 27, 2016, the company operated 1,373 stores in 33 states, compared to 1,363 stores in 32 states as of August 29, 2015.

Picture:Cato Fashion