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The Cato Corporation (NYSE: CATO) is a prominent specialty retailer based in Charlotte, NC. Operating under three primary concepts—Cato, Versona, and It's Fashion—the company caters to diverse customer bases with distinct fashion needs and preferences.
The Cato brand is known for offering a wide range of on-trend apparel and accessories suitable for various occasions, from work to casual outings. The stores provide a selection of missy and plus-size clothing at value prices, ensuring high-quality fabrics, excellent fit, and fresh styles weekly. Customers can shop both in-store and online at www.catofashions.com.
Versona is a unique fashion destination offering an extensive collection of apparel, accessories, jewelry, handbags, and shoes. This brand targets fashion-conscious customers seeking exceptional values. Select items from Versona can also be purchased online at www.shopversona.com.
It's Fashion aims to attract a younger demographic with trendy junior and junior plus-size fashions available at everyday low prices. Expanding on this concept, It's Fashion Metro stores offer stylish clothing for the entire family, maintaining a focus on affordability and value.
The Cato Corporation operates primarily in the southeastern United States and focuses on providing superior customer service and outstanding value. The company is structured into two main segments: Retail and Credit. The Retail segment, which generates the majority of revenue, includes the fashion specialty stores, while the Credit segment provides credit card services to the customers.
Financially, Cato Corp has maintained a steady performance. Recent board announcements have declared regular quarterly dividends, reflecting the company's commitment to returning value to shareholders. For instance, the dividend declared on May 24, 2024, represents an annualized yield of 11.7% based on the closing market price on May 23, 2024.
The company's forward-looking statements often address expectations regarding operational and financial results, considering factors like economic conditions, consumer confidence, and market trends. Such statements are subject to various risks and uncertainties, including changes in laws, competitive pressures, and unpredictable fashion trends.
The Cato Corporation (NYSE: CATO) has declared a quarterly dividend of $0.17 per share, payable on June 27, 2022, to shareholders on record as of June 13, 2022. This dividend, annualized at $0.68, represents a yield of 5.4% based on the closing price on May 19, 2022. Cato is a prominent retailer offering fashionable apparel and accessories through its brands: Cato, Versona, and It's Fashion, providing exclusive merchandise at competitive prices.
The Cato Corporation (NYSE: CATO) reported a net income of $9.7 million or $0.46 per diluted share for Q1 ending April 30, 2022, a decline from $20.7 million or $0.92 per diluted share in the same quarter last year. Sales decreased 3% to $204.9 million, with same-store sales down 2%. The gross margin fell from 41.5% to 35.5% due to lower merchandise margins. While SG&A expenses as a percentage of sales improved slightly, challenges from supply chain disruptions, inflation on consumer spending, and labor market issues persist. The company opened 4 new stores, bringing its total to 1,315.
The Cato Corporation (CATO) reported a net loss of $6.5 million for Q4 FY2021, an improvement from a $8.3 million loss in Q4 FY2020. Full-year net income was $36.8 million compared to a $47.5 million loss in 2020. Q4 sales increased by 13% to $173.6 million, but decreased 8% compared to Q4 FY2019. For FY2021, total sales grew 34% to $761.4 million, though 7% lower than FY2019. The company plans to expand by opening up to 30 new stores while closing up to 25 in 2022. Supply chain issues and inflationary pressures are anticipated to persist.
The Cato Corporation (CATO) declared a quarterly dividend of $0.17 per share, payable on April 4, 2022. This represents an annualized dividend of $0.68 or a yield of 4.0% based on the closing price on February 24, 2022. Additionally, the Board authorized a 1,000,000 share increase in its share repurchase program, with approximately 379,000 shares remaining prior to this announcement. The CEO stated that this increase aims to enhance shareholder value while maintaining financial flexibility for dividends and growth initiatives.
The Cato Corporation (NYSE: CATO) announced the retirement of John R. Howe, CFO, effective January 17, 2022, after 35 years with the company. He will assist with the transition until May 1, 2022. Chuck Knight will succeed him, bringing experience from The Vitamin Shoppe and Toys 'R' Us. The company appreciates Howe's contributions, noting his leadership in financing operations. Cato operates value-priced fashion retailers including Cato, Versona, and It's Fashion, offering exclusive merchandise.
The Cato Corporation (NYSE: CATO) has declared a regular quarterly dividend of $0.17 per share, scheduled for payment on January 3, 2022. Shareholders on record as of December 20, 2021 will receive this dividend. This dividend amounts to an annualized yield of 4.3% based on the market price as of November 18, 2021, reflecting the company's ongoing commitment to returning value to its shareholders.
The Cato Corporation (NYSE: CATO) reported a net income of $8.6 million or $0.39 per diluted share for Q3 2021, marking a substantial recovery from a net loss of $3.6 million in Q3 2020. Sales rose 14% to $170.5 million compared to Q3 2020, although they fell 10% from Q3 2019. Year-to-date, net income reached $43.3 million with an impressive 42% increase in sales to $587.7 million vs. 2020. Challenges from supply chain issues and COVID-19’s Delta variant impacted Q3 sales. The company remains committed to safety and service as it navigates these challenges.
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.
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