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Stock impact report

CATO REPORTS 4Q AND FULL YEAR LOSS [Yahoo! Finance]

Cato Corporation (The) Class A (CATO) 
Last cato corporation (the) class a earnings: 3/16 07:00 am Check Earnings Report
US:NYSE Investor Relations: catofashions.com/info/investor-relations
Company Research Source: Yahoo! Finance
for the fourth quarter ended February 3, 2024 , compared to a net loss of ($3.0) million or per diluted share for the fourth quarter ended January 28, 2023 . Full-year fiscal 2023 net loss was ($23.9) million or per diluted share compared to net income of $0.0 million or per diluted share for 2022. Contributing to the net loss is income tax expense of $10.9 million for the fourth quarter of fiscal 2023 and $10.1 million for the full year of fiscal 2023. The income tax expense is primarily due to a non-cash valuation allowance recorded against U.S. federal and state deferred tax assets. Sales for the fourth quarter ended February 3, 2024 were $172.1 million , or a decrease of 3% from sales of $177.5 million for the fourth quarter ended January 28, 2023 . The Company's same-store sales for the quarter decreased 5% compared to the same period in 2022. The gap between sales and same store sales percentages is due to the fourth quarter of 2023 containing fourteen weeks versus thirteen we Show less Read more
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