Cato touches one-year low as Q1 profit halves

Cato

19/05/2022 16:33

** Clothing and accessories retailer's  CATO.N  shares down
6.3% at $12.50
    ** Stock touches lowest since May 2021
    ** Reports Q1 EPS of 46 cents, compared to 92 cents a year
earlier  urn:newsml:reuters.com:*:nPn3ctQzZa
    ** Revenue falls 3% to $206.7 mln 
    ** Earnings impacted by supply chain disruptions and
pandemic-restrictions overseas - CATO
    ** Inflation also discouraged customers from spending, and
tight labor market forced store closures that dented revenue, 
company adds
    ** YTD, CATO has lost over a fourth of its market value

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))