Cato Corp: Set for biggest one-day fall in over 10 yrs after Q2 miss

Cato

23/08/2018 19:07

** Women's apparel and accessories retailer's shares
 CATO.N  fell as much as 20.7 pct to $18.85, a level last seen
in May
    ** Stock last down 18.2 pct, top pct loser across U.S.
exchanges; eyes biggest one-day plunge since November 2007
    ** Q2 profit and revenue fall short of analysts' estimates 
 urn:newsml:reuters.com:*:nPn8sSW5ma
    ** Cato says it is "cautious" about its H2 merchandise
margin improvement as sales of discounted products were not as
significant in the H2 of 2017
    ** Cato cuts YTD gains to 22 pct

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))