Cato Q4 net loss $14.1M ($0.74 EPS); full-year loss $18.1M; sales down 10%

CATO CORP

2024-FY EPS reported -$0.97 revenue$649,806,000

Q4 net loss $14.1M ($0.74 diluted EPS) vs loss $23.4M ($1.14) in prior year Q4.
Full-year fiscal 2024 net loss $18.1M ($0.97 EPS) vs loss $23.9M ($1.17) in 2023.
Q4 sales $155.3M, down 10% from $172.1M; same-store sales down 0.8% on comparable 13-week basis.
Gross margin declined to 28.0% in Q4 from 31.0% due to markdowns, higher distribution/freight costs.
Eliminated ~40 corporate positions in Feb 2025; plans to open up to 15 stores, close up to 50 in 2025.

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