The Cato Corporation reported sales results for the month and first quarter ended April 30, 2016. The company reported sales of $81.9 million for the four weeks ended April 30, 2016, a 3% decrease from sales of $84.1 million for the four weeks ended May 2, 2015. Same-store sales decreased 3% for the month. April sales were impacted by the shift of Easter from early April last year to mid-March this year. Because of this shift, the best measure for performance is the combined sales for the two months, which were flat overall and decreased 2% to the prior year on a same-store basis.

Sales for the first quarter ended April 30, 2016 were $285.5 million, a 1% increase from sales of $281.6 million for the first quarter ended May 2, 2015. Same-store sales for the first quarter were flat.

The company now expects first quarter earnings per diluted share will be in the range of $1.23 to $1.27 versus $1.11 last year. The increase in earnings per diluted share is primarily due to favorable adjustments to the effective tax rate as a result of tax initiatives.