Cato Q2 net income $1.1M ($0.06 EPS) vs loss; sales down 7% to $181.2M

CATO CORP

2023-Q2 EPS reported $0.27 revenue$374,921,000

Net income of $1.1M ($0.06 diluted EPS) vs net loss of $2.3M ($0.11 loss) in Q2 2022.
Sales fell 7% to $181.2M; same-store sales decreased 5% vs prior year.
Gross margin improved to 35.1% from 32.4% due to higher merchandise margins and lower freight.
SG&A margin rose to 34.0% from 31.2% on higher payroll and insurance costs.
Store count dropped 65 YoY to 1,247; management sees challenging back half of 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CATO CORP reported the six months ended July 29, 2023 results: revenue $371.5 million, net income $5.6 million, EPS $0.27 per diluted share.

Period: the six months ended July 29, 2023
Revenue: $371.5 million
Net income: $5.6 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

For the six months ended July 29, 2023, the Company reported net income of $5.6 million or $0.27 per diluted share, compared to net income of $7.4 million or $0.35 per diluted share for the six months ended July 30, 2022. Sales for the six months ended July 29, 2023 were $371.5 million, a decrease of 7% from sales of $399.9 million for the six months ended July 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CATO CORP reported the second quarter ended July 29, 2023 results: revenue $181.2 million, net income $1.1 million, EPS $0.06 per diluted share.

Period: the second quarter ended July 29, 2023
Revenue: $181.2 million
Net income: $1.1 million
EPS: $0.06 per diluted share
Result: reported results

Exact text from the filing

The Cato Corporation (NYSE: CATO) today reported net income of $1.1 million or $0.06 per diluted share for the second quarter ended July 29, 2023, compared to a net loss of $2.3 million or ($0.11) per diluted share for the second quarter ended July 30, 2022. Sales for the second quarter ended July 29, 2023 were $181.2 million, or a decrease of 7% from sales of $195.0 million for the second quarter ended July 30, 2022.

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Source: SEC EDGAR

accession 0001562762-23-000342

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