Cato reports Q4 net loss narrows to $6.5M; full year net income $36.8M

CATO CORP

2021-FY EPS reported $1.65 revenue$769,271,000

Q4 net loss of $6.5M ($0.30/diluted share) vs loss of $8.3M ($0.37) in prior year.
Q4 sales $173.6M, up 13% YoY; same-store sales +14% YoY but down 10% vs 2019.
Full year net income $36.8M ($1.65/diluted) vs loss of $47.5M ($2.01) in 2020.
Full year sales $761.4M, up 34% YoY; gross margin improved to 40.5% from 23.7%.
Store count 1,311 at Jan 29, 2022 vs 1,330 a year earlier; plans up to 30 new stores in 2022.

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