Cato Incurs Wider Q3 Loss, Sales Drop Y/Y Amid Operational Challenges

Shares of The Cato Corporation (CATO) have declined 40.3% since the company reported its earnings for the quarter ended Nov. 2, 2024, significantly underperforming the S&P 500 index’s 0.6% growth over the same period. Over the past month, Cato stock has declined 41.6%, contrasting with the S&P 500’s 2.6% increase, underscoring a challenging market reaction to the company’s latest financial performance.Cato incurred a net loss of 79 cents per share for the third quarter, wider than the net loss of 30 cents p ...