The Cato Corporation reported sales for the four weeks ended August 26, 2006 of $60.4 million, a 10 percent increase from sales of $54.9 million for the four week period ended August 27, 2005. Comparable store sales increased 4 percent.
Sales for the thirty weeks ended August 26, 2006 were $504.8 million, an increase of 6 percent over sales of $478.3 million for the thirty weeks ended August 27, 2005. The Company's year-to-date comparable store sales increased 1 percent.
"August sales slightly exceeded expectations and sell-throughs remain good," said John Cato, Chairman, President, and Chief Executive Officer. "The remainder of the third quarter provides a more challenging comp sales comparison due to the benefit of increased spending in hurricane affected states during the same period last year."
During the month of August, the Company opened four new stores and closed one store. New stores opened in Marietta, GA, Garden City, MI, Urbana, OH, and Houston, TX. As of August 26, 2006, the Company operated 1,262 stores in 31 states, compared to 1,197 stores in 31 states as of August 27, 2005.
The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, "Cato" and "It's Fashion!". The Company offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day.
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