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.
Cato Corp (NYSE: CATO) operates as a leading specialty retailer of value-priced fashion apparel and accessories through its Cato, Versona, and It’s Fashion brands. This news hub provides investors and industry observers with centralized access to corporate announcements, financial disclosures, and strategic developments.
Key resources include: Quarterly earnings reports, leadership updates, store expansion notices, and merchandise strategy changes. All content is sourced from official company communications to ensure accuracy and timeliness.
Visitors will find chronological updates on operational milestones, including new collection launches, credit program enhancements, and market positioning shifts. The archive serves as both a research tool for financial analysis and a tracking mechanism for retail industry trends.
Bookmark this page for streamlined monitoring of Cato Corp’s evolving business strategy and market performance. Combine these updates with Stock Titan’s financial analysis tools for comprehensive investment research.
The Cato (NYSE: CATO) reported financial results for Q4 and full-year 2024. The company posted a Q4 net loss of ($14.1) million or ($0.74) per share, improving from ($23.4) million loss in Q4 2023. Full-year 2024 net loss was ($18.1) million.
Q4 sales decreased 10% to $155.3 million, with same-store sales declining 0.8% on a comparable 13-week basis. Annual sales fell 8.3% to $642.1 million, with same-store sales down 3.1%.
Key financial metrics include:
- Q4 gross margin declined to 28.0% from 31.0%
- SG&A expenses decreased to 37.8% from 39.2%
- Company operated 1,117 stores across 31 states
Looking ahead to 2025, Cato eliminated 40 corporate positions and plans to open up to 15 new stores while closing up to 50 underperforming locations. The company remains cautious due to economic challenges and tariff pressures.
The Cato (NYSE: CATO) announced the suspension of its regular quarterly dividend. The Board of Directors made this decision based on current economic conditions and sales trends. The company acknowledges that various factors, including interest rates, inflation, and their effects on customer discretionary spending and operational costs, influenced this decision.
Cato (NYSE: CATO) reported a challenging third quarter with a net loss of $15.1 million ($0.79 per share), compared to a $6.1 million loss in Q3 2023. Sales decreased 8% to $144.6 million, with same-store sales down 3%. The company faced multiple challenges including hurricane disruptions, supply chain issues, and higher distribution costs due to a carrier bankruptcy. Gross margin declined to 28.8% from 32.5%, while SG&A expenses increased to 40% of sales. Year-to-date, the company reported a net loss of $4.0 million on sales of $486.8 million, an 8% decrease from 2023. The company operated 1,167 stores across 31 states, down from 1,245 stores last year.
The Cato (NYSE: CATO) has announced a regular quarterly dividend of $0.17 per share, payable on September 30, 2024 to shareholders of record on September 16, 2024. This dividend represents an annualized yield of 14.0% based on the closing market price on August 29, 2024.
Cato is a leading specialty retailer of value-priced fashion apparel and accessories, operating three concepts: 'Cato,' 'Versona,' and 'It's Fashion.' The company offers exclusive merchandise comparable to mall specialty stores at low prices, with online availability for Cato and Versona products.
The Cato (NYSE: CATO) reported Q2 2024 results with net income of $0.1 million or $0.01 per diluted share, down from $1.1 million or $0.06 per share in Q2 2023. Sales decreased 8% to $166.9 million, primarily due to closed stores and a 2% same-store sales decline. For the first half of 2024, net income was $11.1 million or $0.54 per share, up from $5.6 million or $0.27 per share in 2023. Gross margin decreased to 34.6% from 35.1%, while SG&A expenses increased to 34.9% of sales from 34.0%. The company closed five stores during Q2, operating 1,166 stores across 31 states as of August 3, 2024.
The Cato (NYSE: CATO) has announced a regular quarterly dividend of $0.17 per share, payable on June 24, 2024, to shareholders of record as of June 10, 2024. This quarterly dividend, amounting to $0.68 annually, offers an annualized yield of 11.7%, based on the closing market price on May 23, 2024.
Cato operates three retail concepts: 'Cato,' 'Versona,' and 'It's Fashion,' specializing in value-priced fashion apparel and accessories. Their merchandise is available both in stores and online. The company notes that the press release contains forward-looking statements that are subject to various risks and uncertainties.
Cato (NYSE: CATO) reported a net income of $11.0 million ($0.54 per diluted share) for Q1 2024, up from $4.4 million ($0.22 per share) in Q1 2023.
Sales dropped by 8% to $175.3 million, and same-store sales fell by 6%, attributed to high interest rates and inflation affecting customer spending.
Gross margin remained steady at 35.8%, while Selling, General & Administrative (SG&A) expenses decreased to $56.8 million from $61.9 million.
Interest and other income surged to $5.8 million, driven by a $3.2 million gain on land sale. Tax expenses decreased to $0.6 million.
The company repurchased 431,415 shares, closed seven stores, and ended with 1,171 stores in 31 states.
