---
schema_version: "secwatch.filing_event.v1"
accession: "0001562762-23-000342"
form_type: "8-K"
ticker: "CATO"
cik: "0000018255"
company_name: "CATO CORP"
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:27:09.783964+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001562762-23-000342
- form_type: 8-K
- ticker: CATO
- cik: 0000018255
- company_name: CATO CORP
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18255/000156276223000342/0001562762-23-000342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18255/000156276223000342/cato-20230824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562762-23-000342
- JSON: https://secwatch.observer/filing/0001562762-23-000342.json
- Plain text: https://secwatch.observer/filing/0001562762-23-000342.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/18255/000156276223000342/0001562762-23-000342-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/18255/000156276223000342/0001562762-23-000342-index.htm

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