secwatch.observer — SEC 8-K summary
======================================

Issuer:     CATO CORP (CATO)
CIK:        0000018255
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001562762-24-000063
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/0001562762-24-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/18255/000156276224000063/cato-20240321.htm
  HTML page:      https://secwatch.observer/filing/0001562762-24-000063

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer