Cato Fashions' June sales decline 2 percent

The Cato Corporation reported sales of 72.9 million dollars for the five weeks ended July 7, 2018, a 2 percent decrease from sales of 74.7 million dollars for the five weeks ended July 1, 2017. Same-store sales for the period were flat.

"June same-store stores were slightly below our expectations," said John Cato, the company’s Chairman, President, and CEO in a statement.

Sales for the twenty-two weeks, Cato said, were 386.2 million dollars, flat from sales of 386.5 million dollars for the twenty-two weeks ended July 1, 2017. The company's year-to-date same-store sales witnessed an increase of 1 percent compared to last year.

During the month of June, the company closed one store in Guthrie, OK. As of July 7, 2018, the company operated 1,350 stores in 33 states, compared to 1,374 stores in 33 states as of July 1, 2017.

Picture:Facebook/Cato Fashions