CHARLOTTE, N.C.—Specialty apparel retailer Cato Corp. said Thursday that same-store sales rose 5 percent in April as the company benefited from the earlier Easter holiday and improved weather.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
For the four weeks ended May 3, total sales jumped 8 percent to $69.4 million, from $64.2 million in the prior year period.
Because of the shift of the Easter holiday into March, Cato said the best measure for year-over-year performance is the combined sales results for both March and April. Combined, same-store sales fell 3 percent and overall sales dipped 1 percent.
For the first quarter ended May 3, same-store sales fell 2 percent. Total sales rose 1 percent to $225.8 million, from $224.1 million in the first quarter of 2007.
