Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
