CHARLOTTE, N.C. (AP) — Women's clothing company Cato said Thursday that a key sales measurement was unchanged in November, and its CEO expects the rest of the holiday shopping season will be difficult.
The company said sales at stores open at least a year were little changed from those of November 2012. That comparison is considered an important measurement of retailer health because they strip out results from stores that have opened or closed within the last year.
Cato said those results matched its expectations. "We continue to expect that the remainder of the holiday shopping season and fourth quarter will be difficult," Chairman and CEO John Cato said in a news release.
its total sales grew 4 percent to $67.3 million for the month. The company had 1,328 stores at the end of November.
Cato Corp. shares finished at $32.36 Wednesday.