Cato Incurs Wider Q3 Loss, Sales Drop Y/Y Amid Operational Challenges
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Cato Corporation reported a wider year-over-year loss in Q3, with an 8% drop in sales. The company faced challenges such as hurricanes, supply chain issues, and rising costs, which are expected to continue affecting its performance.
November 25, 2024 | 6:30 pm
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Cato Corporation reported a wider loss in Q3 with an 8% sales drop, impacted by hurricanes, supply chain issues, and rising costs. These challenges are expected to persist.
Cato's financial performance in Q3 was negatively impacted by external factors such as hurricanes and supply chain disruptions, leading to a wider loss and decreased sales. These issues are expected to continue, likely putting downward pressure on the stock price in the short term.
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