US’ Cato posts $18.1 mn loss for 2024, eyes cost cuts in 2025
Cato Corporation posted a full-year 2024 net loss of $18.1 million, with sales down 8.3 per cent to $642.1 million. Quarter four net loss narrowed to $14.1 million. Sales fell due to weak consumer spending and supply chain issues. Cato cut SG&A expenses, closed 62 stores, and plans further cuts and 50 store closures in 2025 amid tariff and cost pressures.
Cato Corporation posted a full-year 2024 net loss of $18.1 million, with sales down 8.3 per cent to $642.1 million.
Quarter four net loss narrowed to $14.1 million.
Sales fell due to weak consumer spending and supply chain issues.
Cato cut SG&A expenses, closed 62 stores, and plans further cuts and 50 store closures in 2025 amid tariff and cost pressures.
