Cato Corp Files 10-K for Fiscal Year Ended February 3, 2024

TL;DR

<b>Cato Corp filed its annual 10-K report detailing financial performance for the fiscal year ending February 3, 2024.</b>

AI Summary

CATO CORP (CATO) filed a Annual Report (10-K) with the SEC on March 27, 2024. Cato Corp reported its 10-K filing for the fiscal year ended February 3, 2024. The filing covers the period from January 31, 2023, to February 3, 2024. The company's fiscal year end is February 3rd. Cato Corp is classified under SIC code 5621 (Women's Clothing Stores). The filing was submitted on March 27, 2024.

Why It Matters

For investors and stakeholders tracking CATO CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Cato Corp's financial health, operational performance, and strategic positioning for the past fiscal year, crucial for investors and stakeholders to assess the company's trajectory. As a women's clothing store, Cato Corp's performance in this 10-K is a key indicator of its ability to navigate the competitive retail landscape and consumer spending trends.

Risk Assessment

Risk Level: medium — CATO CORP shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information. Specific risks are detailed within the filing itself, but the nature of a 10-K suggests a medium level of inherent risk due to the comprehensive disclosure requirements.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Cato Corp's performance and potential challenges.

Key Numbers

• 2024-02-03 — Fiscal Year End (Conformed period of report)
• 2024-03-27 — Filing Date (Filed as of date)
• 5621 — SIC Code (Standard Industrial Classification)
• 001-31340 — SEC File Number (SEC file number)

Key Players & Entities

• CATO CORP (company) — Filer name
• CATO (company) — Former company name
• CATO STORES INC (company) — Former company name
• DE (company) — State of incorporation
• NC (company) — State of business address
• CHARLOTTE (company) — City of business address

FAQ

Industry Context

Cato Corp operates in the women's clothing stores sector, a segment of the broader retail industry characterized by fashion trends, consumer spending, and competition.

Regulatory Implications

The filing is a 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies, detailing financial performance and business operations.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and balance sheet health.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and strategic initiatives.
3. Examine the risk factors section to understand potential challenges and their impact on the company.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-27: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-K filing for the fiscal year ended February 3, 2024. Previous filings would cover prior fiscal years.

Key Financial Figures

• $5.00 — ar spent on merchandise purchases. A $5.00 rewards card is earned for every 250

Filing Documents

• cato2023012810K.htm (10-K) — 2052KB
• cato2023012810Kp27i0.gif (GRAPHIC) — 15KB
• exhibit211.htm (EX-21.1) — 22KB
• exhibit231.htm (EX-23.1) — 3KB
• exhibit311.htm (EX-31.1) — 31KB
• exhibit312.htm (EX-31.2) — 31KB
• exhibit321.htm (EX-32.1) — 6KB
• exhibit322.htm (EX-32.2) — 6KB
• exhibit971.htm (EX-97.1) — 68KB
• 0001562762-24-000065.txt (&nbsp;) — 9076KB
• cato-20240203.xsd (EX-101.SCH) — 53KB
• cato-20240203_cal.xml (EX-101.CAL) — 92KB
• cato-20240203_def.xml (EX-101.DEF) — 221KB
• cato-20240203_lab.xml (EX-101.LAB) — 727KB
• cato-20240203_pre.xml (EX-101.PRE) — 447KB
• cato2023012810K_htm.xml (XML) — 1410KB

financial statements of

financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2). Yes No The aggregate market value of the Registrant's Class A Common Stock held by non-affiliates of the Registrant as of July 29, 2023, the last business day of the Company's most recent second quarter, was $ 146,852,671 based on the last reported sale price per share on the New York Stock Exchange on that date. As of February 3, 2024, there were 18,802,742 shares of Class A common stock and 1,763,652 shares of Class B common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the proxy statement relating to the 2024 annual meeting of shareholders are incorporated by reference into Part III. 2 THE CATO CORPORATION FORM 10-K TABLE OF CONTENTS Page PART I Item 1.

Business

Business .......................................................................................................................... 5 – 10 Item 1A.

Risk Factors

Risk Factors .................................................................................................................... 10 – 22 Item 1B. Unresolved Staff Comments ........................................................................................... 22 Item 1C. Cybersecurity .................................................................................................................. 22 Item 2.

Properties

Properties ........................................................................................................................ 23 Item 3.

Legal Proceedings

Legal Proceedings ........................................................................................................... 24 Item 3A. Executive Officers of the Registrant ............................................................................... 25 Item 4. Mine Safety Disclosures ................................................................................................. 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ........................................................................................ 26 – 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results

Management's Discussion and Analysis of Financial Condition and Results of Operations .................................................................................................................. 29 – 35 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk ........................................ 35 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data .............................................................. 36 – 66 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ....................................................................................................................... 67 Item 9A.

Controls and Procedures

Controls and Procedures ................................................................................................. 67 Item 9B. Other Information ........................................................................................................... 68 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections ............................ 68 PART III Item 10. Directors, Executive Officers and Corporate Governance ............................................. 69 Item 11.

Executive Compensation

Executive Compensation ................................................................................................ 69 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ........................................................................................................ 69 Item 13. Certain Relationships and Related Transactions, and Director Independence ............... 70 Item 14. Principal Accountant Fees and Services ......................................................................... 70 PART IV Item 15. Exhibits and Financial Statement Schedules .................................................................. 71 Item 16. Form 10-K Summary . 73 3 Forward-looking Information The following information should be read along with the Consolidated Financial including the accompanying Notes appearing in this report. Any of the following are "forward-looking" and Section 21E of the Securities Exchange Act of 1934, as amended: (1) statements in this Form 10-K and any documents incorporated by reference that reflect projections or expectations of our future financial or economic performance; (2) statements that are not historical information; (3) statements of our beliefs, intentions, plans and objectives for future operations, including those contained in "Management's Discussion and Analysis of Financial Condition and Results of Operations"; (4) statements relating to our operations or activities for our fiscal year ended February 3, 2024 ("fiscal 2023") and beyond, including, but not limited to, regarding expected amounts of capital expenditures and store openings, relocations, remodels and closures, potential impact of the COVID-19 pandemic and related responses and mitigation efforts, as well as the potential impact of supply chain disruptions, extreme weather condit

View Full Filing

View this 10-K filing on SEC EDGAR