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Specialty retailer $CATO said sales for August, 2016 were $62MM, down 7% versus August, 2015. Same-store sales in August were down 8% to the prior year. YTD sales were $584.1MM, down 2% from the prior-year period. YTD same-store sales decreased 4%. As of Aug. 27, 2016, $CATO operated 1,373 stores in 33 states.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.