Cato Fashions’ FY17 net income plunges 82 percent to 8.5 mn dollars

The Cato Corporation has reported a net loss of 15.5 million dollars or a loss of 0.62 dollars per diluted share, compared to 12.8 million dollars or 0.48 dollar per diluted share for the prior fourth quarter ended January 28, 2017. Full-year fiscal 2017 net income was 8.5 million dollars or 0.34 dollar per diluted share compared to 47.2 million dollars or 1.72 dollars per diluted share for 2016. For the year, net income decreased 82 percent and earnings per diluted share decreased 81 percent from the prior year.