Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
The Cato ( (CATO) ) has provided an update.
The Cato Corporation announced a significant third-quarter net loss of $15.1 million, exacerbated by an 8% drop in sales and a challenging economic environment influenced by hurricanes and supply chain issues. Despite efforts to manage expenses, the company faces increased costs due to a major carrier’s bankruptcy and distribution challenges. With a decrease in gross margin and same-store sales, Cato anticipates a tough fourth quarter while navigating operational hurdles and market uncertainties.
For detailed information about CATO stock, go to TipRanks’ Stock Analysis page.