Cato's March Same-Store Sales Drop 9 Pct

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Total sales for the five weeks ended April 5 fell 6 percent to $89.2 million, from $95.1 million last year.

Cato said March sales suffered from the earlier Easter holiday on March 23, which shifted the soft sales week following Easter into March, compared with April last year. Cato expects April sales to get a boost from the earlier holiday.

"In addition to the Easter shift, March sales were impacted by the current retail environment," said Chairman, President, and Chief Executive John Cato.

For the year-to-date period, same-store sales fell 4 percent. Total sales dipped 2 percent to $156.4 million, from $160 million.