8-K
filed May 22, 2023, 7:59 PM ET
ticker CATO
CIK 0000018255
earnings
confidence high
sentiment negative
materiality 0.65
Cato Q1 net income falls to $4.4M ($0.22) from $9.7M ($0.46); sales down 7%
CATO CORP
2023-Q1 EPS reported
$0.22
revenue$192,050,000
- Net income $4.4M ($0.22 per diluted share) vs $9.7M ($0.46) in Q1 2022.
- Sales $190.3M, down 7% YoY; same-store sales decreased 6%.
- Gross margin improved to 35.8% from 35.5%; SG&A expense rose to 32.5% from 29.5%.
- Opened 4 stores, closed 20; ended with 1,264 stores in 32 states.
- Shareholders voted for say-on-pay advisory vote every three years; directors elected.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
CATO CORP reported first quarter ended April 29, 2023 results: revenue $190.3 million, net income $4.4 million, EPS $0.22 per diluted share.
- Period
- first quarter ended April 29, 2023
- Revenue
- $190.3 million
- Net income
- $4.4 million
- EPS
- $0.22 per diluted share
- Result
- reported results
Exact text from the filing
The Cato Corporation (NYSE: CATO) today reported net income of $4.4 million or $0.22 per diluted share for the first quarter ended April 29, 2023, compared to net income of $9.7 million or $0.46 per diluted share for the first quarter ended April 30, 2022. Sales for the first quarter ended April 29, 2023 were $190.3 million, or a decrease of 7% from sales of $204.9 million for the first quarter ended April 30, 2022.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CATO CORP shareholders approved Election of Directors at the 2023-05-18 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-18
Exact text from the filing
On May 18, 2023, the Registrant held its Annual Meeting. The following are the voting results on each matter submitted to the Registrant’s stockholders at the Annual Meeting.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CATO CORP shareholders approved Frequency of advisory vote on executive compensation at the 2023-05-18 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-18
Exact text from the filing
3. In addition, to hold an advisory (non-binding) vote on how often a shareholder vote on “say on pay” is held every one year, two years or three years.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CATO CORP shareholders approved Ratification of PricewaterhouseCoopers LLP as independent auditor at the 2023-05-18 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-18
Exact text from the filing
4. To approve, to ratify the selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending February 3, 2024.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CATO CORP shareholders approved Advisory vote on executive compensation at the 2023-05-18 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-18
Exact text from the filing
2. To approve, on an advisory basis, the Company’s executive compensation. The Company’s shareholders voted to approve this proposal with 22,466,145 for and 6,346,566 votes against. There were 89,348 abstentions and 5,014,557 Broker non-votes.
View on SEC.gov
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