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.
The Cato Corporation (NYSE: CATO) reported a net income of $14.0 million or $0.62 per diluted share for Q2 2021, reversing a net loss of $7.2 million in Q2 2020. Sales reached $206.0 million, a 24% increase from $166.3 million in the same quarter last year, though 2% lower than $210.4 million in 2019. Year-to-date, net income was $34.7 million, with sales of $417.2 million, up 57% from last year. The company faces supply chain challenges and rising COVID cases but remains cautiously optimistic for the rest of the year.
The Cato Corporation (NYSE: CATO) announced a quarterly dividend of $0.11 per share, payable on June 21, 2021 to shareholders on record as of June 7, 2021. This dividend translates to an annualized yield of 3.1% based on the closing market price as of May 19, 2021, equating to $0.44 annually. Cato specializes in value-priced fashion apparel and accessories through its Cato, Versona, and It's Fashion brands, providing a variety of exclusive merchandise at competitive prices.
The Cato Corporation (NYSE: CATO) reported a net income of $20.7 million or $0.92 per diluted share for the first quarter ending May 1, 2021. This marks a significant recovery from a net loss of $28.4 million or ($1.19) per diluted share in the same period last year. Sales increased by 114% to $211.2 million compared to $98.8 million in Q1 2020. Although same-store sales rose by 111% from 2020, they declined by 8% compared to 2019. The company ended the quarter with unrestricted cash of $183.2 million, having closed 5 stores and operating 1,325 stores across 32 states.
The Cato Corporation (NYSE: CATO) reported significant losses for the fourth quarter and fiscal year ending January 30, 2021. The fourth quarter net loss was $6.9 million ($0.31 per diluted share), compared to a loss of $3.2 million the previous year. For the full year, losses totaled $46.1 million ($1.96 per diluted share), contrasting with a net income of $35.9 million in 2019. Sales also dropped by 30% to $567.5 million, as same-store sales decreased by 32%. Despite challenges from COVID-19, Cato maintains a solid balance sheet with $143.9 million in cash and no debt.
The Cato Corporation (NYSE: CATO) reported a net loss of $3.6 million or ($0.15) per diluted share for Q3 2020, contrasting with a net income of $6.0 million or $0.24 per diluted share in Q3 2019. Sales dropped 21% to $149.2 million, with same-store sales declining 23%. For the nine months ending October 31, 2020, losses reached $39.2 million, compared to a profit of $39.1 million in the same period last year. The Company reopened stores in phases after closing due to COVID-19, ending the quarter with $151.4 million in cash and a $35 million credit line available.
The Cato Corporation reported a net loss of $7.2 million for Q2 2020, reflecting a significant downturn compared to a net income of $11.9 million in Q2 2019. Sales decreased by 21% to $166.3 million, with same-store sales dropping 24%. For the first half of 2020, Cato's net loss totaled $35.6 million, with sales down 40% year-over-year. Although all stores reopened by June 15, ongoing impacts from COVID-19 remain a concern. The company ended the quarter with $137 million in cash and no outstanding credit balance. Cato continues to prioritize safety amidst the pandemic.