Cato May sales figure slips

Cato key revenue figure falls 2 percent in May

Associated Press

CHARLOTTE, N.C. (AP) -- Clothing retailer Cato Corp. said Thursday that revenue in stores open at least a year fell 2 percent in May as its spring and summer fashions failed to entice customers into stores.

The company, which runs clothing and accessories stores under the Cato, Versona and It's Fashion names, said total revenue fell 3percent to $84.3 million during the four weeks ended June 1.

"May sales continued to be difficult although better than our current trend," said CEO John Cato in a statement.

Revenue in stores open at least a year is a key revenue figure because it excludes stores that open or close during the year.

Year-to-date, the metric fell 4 percent while total revenue fell 2 percent to $348.9 million.

Cato is based in Charlotte, N.C.

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