Cato Fashions posts Q3 loss, sales decline 21 percent

The Cato Corporation has reported a net loss of 3.6 million dollars or loss of 15 cents per diluted share for the third quarter ended October 31, 2020, compared to net income of 6 million dollars or 24 cents per diluted share for the third quarter ended November 2, 2019. The company said in a statement that sales for the quarter were 149.2 million dollars or a decrease of 21 percent, while the company’s same-store sales decreased 23 percent to the same period last year.