Cato Corp. reported sales of $52.4 million for the four weeks ended January 31, 2009 as compared to sales of $56.4 million for the four weeks ended February 2, 2008, a decrease of 7%. Comparable store sales for the month decreased 10% from last year. "January sales were weaker than our recent trend, and comparable store sales were partially impacted by lower mark down inventory than last year. Overall, inventory levels remain well controlled. Due to higher than expected margins, we now estimate that fourth quarter results will be in the range of $0.10 to $0.12 versus ($0.06) last year and the year will be in the range of $1.12 to $1.14 versus $1.03 last year, an increase of 9% to 11%." (John Cato). Due to the economy and sales determines whether or not store will open or have to close.
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