AP News

Cato's revenue falls 2 percent in November


CHARLOTTE, N.C. (AP) — Women's clothing company Cato Corp. said Thursday that revenue at stores open at least a year in November fell 2 percent.

The company said results were in-line with its year-to-date trend.

Still, in the three months through Nov. 24, Cato's total revenue rose 2 percent to $64.9 million, from $63.6 million.

The news comes as the key holiday sales season revs up.

"Our inventory is well positioned as we move into the holiday selling season," said CEO John Cato.

Revenue in stores open at least one year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed, which can skew business trends.

Cato Corp. operates 1,312 stores in 31 states.


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