Cattleya like to take their time...sometimes. Most of the time as a p-bulb develops it will grow a sheath. The sheath can then fill with buds or sit there empty making you crazy. Most of the time when this happens I chalk it up to "it's not time to bloom yet". But there are also other factors, such as change in care, bugs, heat, cold...etc that can affect your plant and stop the buds growing. Be patient and someday it may bloom. If it doesn't, you may want to change light levels, or perhaps fertilizer. Usually it's not time for it to bloom...but please keep in mind; a newly purchased plant has probably gone into "shock". It has left a lovely nursery environment designed for it to grow at the height of it's potential. Then bam it gets sent to a store and then to your house. Give it a couple weeks to a few months to come out of shock. Keep caring for it like normal, and hang in there.