---
schema_version: "secwatch.filing_event.v1"
accession: "0000018255-22-000020"
form_type: "8-K"
ticker: "CATO"
cik: "0000018255"
company_name: "CATO CORP"
filed_at: "2022-05-23T23:59:59+00:00"
generated_at: "2026-06-25T08:21:25.107083+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cato Q1 net income $9.7M ($0.46/diluted), down 53% YoY; sales $204.9M, -3%

## Summary
- Net income $9.7M ($0.46 diluted) vs $20.7M ($0.92) in Q1 2021; sales decreased 3% to $204.9M; same-store sales -2%.
- Gross margin fell from 41.5% to 35.5% due to lower merchandise margins; SG&A improved to 29.5% of sales.
- Entered $35M unsecured revolving credit facility with Wells Fargo, five-year term, SOFR+1.0%, replace prior BB&T facility.
- Shareholders reelected Theresa J. Drew and D. Harding Stowe to board; approved Say-on-Pay and auditor ratification.
- Management cautious on FY22: late shipments, inflation, and pressure on consumer discretionary income continue.

## SEC filing metadata
- accession: 0000018255-22-000020
- form_type: 8-K
- ticker: CATO
- cik: 0000018255
- company_name: CATO CORP
- filed_at: 2022-05-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.02, 2.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18255/000001825522000020/0000018255-22-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18255/000001825522000020/cato-20220519.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000018255-22-000020
- JSON: https://secwatch.observer/filing/0000018255-22-000020.json
- Plain text: https://secwatch.observer/filing/0000018255-22-000020.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.