Cato records dip in July total sales and comps

The Cato Corp. reported sales of $61.2 million for the four weeks ended July 30, down 8% from the same period a year ago.



Same-store sales for the month were down 10% from the prior year.



On a quarterly basis, Cato sales for the second quarter fell 5% to $236.7 million, compared to $249.2 million a year ago. Second quarter same-store sales were down 6% from the prior year.



"July same-store sales were well below our expectations," said John Cato, CEO.



The value fashion retailer operates 1,373 stores in 33 states.