The Cato Corporation, a US-based retailer of women's fashions and accessories, reported 19 per cent sales decline to $153.2 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $188.4 million in the same period last fiscal. The company’s net loss during the quarter was $6.9 million (Q4 FY19: $3.2 million).
The Cato Corporation, a US-based retailer of women's fashions and accessories, reported 19 per cent sales decline to $153.2 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $188.4 million in the same period last fiscal. The company's net loss during the quarter was $6.9 million (Q4 FY19: $3.2 million).#
“2020 was a challenging year for specialty apparel retail. We made some difficult decisions in an effort to sustain our business in the wake of the pandemic,” John Cato, chairman, president, and chief executive officer at Cato Corporation, said in a press release.
The Cato Corporation, a US-based retailer of women's fashions and accessories, reported 19 per cent sales decline to $153.2 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $188.4 million in the same period last fiscal. The company's net loss during the quarter was $6.9 million (Q4 FY19: $3.2 million).#
Cost of goods sold during the quarter slipped to $107.4 million ($123.8 million). Net cost and expenses were down to $164.7 million ($193.3 million).
The Cato Corporation, a US-based retailer of women's fashions and accessories, reported 19 per cent sales decline to $153.2 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $188.4 million in the same period last fiscal. The company's net loss during the quarter was $6.9 million (Q4 FY19: $3.2 million).#
For fiscal 2020, the company opened 76 stores, relocated 3 stores and closed 27 stores. As of January 30, 2021, the company operated 1,330 stores in 33 states.
The Cato Corporation, a US-based retailer of women's fashions and accessories, reported 19 per cent sales decline to $153.2 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $188.4 million in the same period last fiscal. The company's net loss during the quarter was $6.9 million (Q4 FY19: $3.2 million).#
“As we begin to regain ground lost during 2020, our priority will continue to be the health and safety of our associates and customers, providing a safe shopping environment, while offering great value to our customers,” Cato said.
Fibre2Fashion News Desk (JL)
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