Cato Corp. same-store sales rise 2 percent in May

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.

"May sales were better than expected," said John Cato, chairman, president, and chief executive, in a statement. "Our inventory remains in line with our sales trend. We remain cautious regarding the economic environment and its impact on our customer base."

Total sales for the four weeks ended May 31 jumped 6 percent to $80.5 million.

For the year to date, same-store sales are down 1 percent, while total sales rose 2 percent to $300.1 million.