Cato Q2 net income falls to $1.1M from $6.8M; sales down 6%

CATO CORP

Q2 diluted EPS $0.06 vs $0.35 last year; net income $1.1M vs $6.8M.
Sales $163.9M, down 6% YoY; same-store sales down 3.7%.
Gross margin fell to 32.8% from 36.2% on lower merchandise margins and occupancy deleverage.
Closed 8 stores in quarter; store count 1,057 vs 1,101 a year ago.
CEO cites inflation, fuel prices, interest rates pressuring customers; expects challenging H2 2026.

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