Welcome to our dedicated page for Cato news (Ticker: CATO), a resource for investors and traders seeking the latest updates and insights on Cato stock.
The Cato Corporation (NYSE: CATO) is a specialty retailer of value-priced fashion apparel and accessories that regularly reports detailed financial and operational updates. This news page aggregates company-issued press releases and market news related to CATO, giving readers a single place to review the latest information disclosed by the company.
In its recent communications, Cato has reported quarterly and full-year results, including net income or loss, sales trends, same-store sales performance, gross margin, selling, general and administrative expenses, and other key metrics. The company also provides updates on store openings, relocations and permanent closures, along with changes in its total store count across multiple states.
News items here include earnings releases such as first, second, third and fourth quarter results, as well as full-year summaries. Cato’s press releases often discuss factors affecting its performance, including consumer discretionary spending, supply chain conditions, tariffs, weather events and other economic influences identified by the company. Dividend declarations, dividend suspensions and share repurchase activity disclosed by Cato are also reflected in the news flow.
Because Cato operates the Cato, Versona and It’s Fashion concepts, news can touch on merchandising, inventory management and initiatives the company associates with productivity and efficiency. By following this page, investors and observers can review the company’s own descriptions of its operating environment, risk considerations and strategic focus as expressed in its public statements and SEC-related announcements.
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The Cato Corporation reported a net loss of $3.0 million or ($0.14) per diluted share for the fourth quarter ended January 28, 2023, an improvement from a net loss of $6.5 million or ($0.30) per diluted share in the same quarter of 2022. Full-year fiscal 2022 net income dropped to $0.0 million compared to $36.8 million in 2021. Sales grew by 2% in Q4 to $177.5 million despite a 1% decline in annual sales to $752.4 million. The gross margin decreased from 36.9% to 31.3% year-over-year due to markdowns and rising costs. The company plans to open up to 30 new stores while closing up to 50 in 2023, anticipating minimal financial impact.
The Cato Corporation (NYSE: CATO) declared a quarterly dividend of $0.17 per share, payable on April 3, 2023, to shareholders of record on March 21, 2023. This equates to an annualized dividend of $0.68, offering a yield of 7.4% based on the closing price on February 23, 2023. Additionally, the Board authorized an increase of 1,000,000 shares for its share repurchase program, previously capped at 135,000 shares. CEO John Cato emphasized that this decision aims to enhance long-term shareholder value while maintaining financial flexibility for dividends and growth initiatives.
The Cato Corporation (NYSE: CATO) has declared a regular quarterly dividend of $0.17 per share, payable on January 3, 2023, to shareholders on record by December 23, 2022. This dividend yields an annualized rate of 6.7% based on the closing price of $0.68 on November 17, 2022. As a prominent specialty retailer, Cato operates under three concepts—Cato, Versona, and It's Fashion—offering value-priced apparel and accessories that deliver fashion quality comparable to mall stores.