Cato posts Q3 net income of $8.6M ($0.39 EPS); sales up 14% YoY but down 10% from 2019

CATO CORP

2021-Q3 EPS reported $1.93 revenue$593,044,000

Net income of $8.6M ($0.39 diluted EPS) vs net loss of $3.6M ($0.15 loss) in Q3 2020.
Sales of $170.5M, up 14% YoY; same-store sales +14% vs 2020 but -13% vs 2019.
Gross margin expanded to 38.9% from 26.7%; SG&A rose to 36.6% of sales from 34.8%.
Ended quarter with $200.1M in cash/short-term investments; 6 stores permanently closed YTD.
CEO expects Q4 to be 'very challenging' due to supply chain disruption, inflation, and potential vaccine mandates.

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