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Assortment missteps at Cato lead to sales plunge

Published 04/06/2017, 07:36 AM
© Reuters.  Assortment missteps at Cato lead to sales plunge
CATO
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  • 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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