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Shoppers Turn Away From Cato Corp. as Sales Slump

M. Corey Goldman

The "Cato," "Versona," and "It's Fashion" discount womens' retail chain operator on Thursday reported sales for the four weeks ended March 2, of $59.1 million, a 12% drop from sales of $67.2 million for the comparable four-week period a year earlier. "February same-store sales were well below our expectations," CEO John Cato said in a statement. As of March 2, Cato operated 1,308 stores in 31 states, compared to 1,351 stores in 33 states as of March 3, 2018.