Fashion retailer Cato's Q3 sales rise 6%, net loss narrows to $5.2 mln
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Cato's Q3 sales increased by 6% year-over-year, with same-store sales up 10%. The net loss narrowed to $5.2 million from $15.1 million last year. Gross margin improved to 32% due to lower costs. The company anticipates a challenging Q4 due to a slowdown in employment growth and plans to manage expenses and inventory tightly. The positive sales trend was attributed to the absence of last year's disruptions and effective cost management.
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