---
schema_version: "secwatch.filing_event.v1"
accession: "0001562762-24-000063"
form_type: "8-K"
ticker: "CATO"
cik: "0000018255"
company_name: "CATO CORP"
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:37:38.223957+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cato reports Q4 net loss of $23.4M, full year loss $23.9M; sales down 7%

## Summary
- Q4 net loss of $23.4M ($1.14/diluted) vs net loss of $3.0M ($0.14/diluted) in prior year.
- Full year net loss $23.9M ($1.17/diluted) vs net income $0.0M in 2022; sales fell 7% to $700.3M.
- Income tax expense of $10.9M in Q4 and $10.1M for FY due to valuation allowance on deferred tax assets.
- Same-store sales decreased 5% in Q4 and 6% for FY; store count down to 1,178 from 1,280.
- Plans to open up to 15 stores and close up to 75 underperforming stores in 2024.

## SEC filing metadata
- accession: 0001562762-24-000063
- form_type: 8-K
- ticker: CATO
- cik: 0000018255
- company_name: CATO CORP
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/0001562762-24-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/cato-20240321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562762-24-000063
- JSON: https://secwatch.observer/filing/0001562762-24-000063.json
- Plain text: https://secwatch.observer/filing/0001562762-24-000063.txt

## Key facts
- Earnings Releases
  CATO CORP reported the full year of fiscal 2023 results: revenue $700.3 million, net income net loss of ($23.9) million, EPS ($1.17) per diluted share.
  - Period: the full year of fiscal 2023
  - Revenue: $700.3 million
  - Net income: net loss of ($23.9) million
  - EPS: ($1.17) per diluted share
  - Result: reported results
  source text: 2022, as the fiscal year ended February 3, 2024 contains 53 weeks versus 52 weeks in the fiscal year ended January 28, 2023. For the year, the Company's sales decreased 7% to $700.3 million from 2022 sales of $752.4 million. Same-store sales for the year decreased 6% compared to 2022. "Our fiscal 2023 sales trend was negatively impacted by pressure on our customers’
  evidence_url: https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/0001562762-24-000063-index.htm
- Earnings Releases
  CATO CORP reported the fourth quarter ended February 3, 2024 results: revenue $172.1 million, net income net loss of ($23.4) million, EPS ($1.14) per diluted share.
  - Period: the fourth quarter ended February 3, 2024
  - Revenue: $172.1 million
  - Net income: net loss of ($23.4) million
  - EPS: ($1.14) per diluted share
  - Result: reported results
  source text: expense is primarily due to a non-cash valuation allowance recorded against U.S. federal and state deferred tax assets. Sales for the fourth quarter ended February 3, 2024 were $172.1 million, or a decrease of 3% from sales of $177.5 million for the fourth quarter ended January 28, 2023. The Company’s same-store sales for the quarter decreased 5% compared to the same
  evidence_url: https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/0001562762-24-000063-index.htm

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