Cato Corp Reports 23% Revenue Growth In Q2

Cato Corp CATO reported second-quarter FY21 revenue growth of 23.53% year-on-year, to $207.75 million. Sales decreased 2% versus the same period in 2019.
Same-store sales for the quarter increased 23% versus last year and decreased 5% versus the same period in 2019.
The gross margin for the quarter was 43.9% versus 20.2% last year.
The company held $29.3 million in cash and equivalents as of July 31, 2021.
EPS was $0.62 versus $(0.30) last year.
Cato said it remains cautiously optimistic about the remainder of the year.
Price Action: CATO shares are trading higher by 2.15% at $16.63 on the last check Thursday.

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