Cato Shares Head For Lowest Close Since 1997 After Halting Dividend

Dow Jones

Nov 23, 2024

By Ben Glickman

Shares of Cato tumbled after the company suspended its quarterly dividend citing challenging economic conditions and slipping sales.

The stock was down 28% to $3.56 in midday trading Friday following an 18% drop on Thursday. Shares were on pace for their lowest close since June 1997 and their largest percentage drop since October 1987.

The women's fashion retailer before the market open suspended its 17 cent per share quarterly cash dividend, which has been unchanged since 2021.

The dividend move comes after Cato reported lackluster third-quarter sales, leading the Charlotte, N.C., company to swing to a loss. Sales fell 8%, which it attributed to continued weakness in consumers' discretionary spending, as well as major hurricanes and supply chain issues.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 22, 2024 11:27 ET (16:27 GMT)

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Shares were on pace for their lowest close since June 1997 and their largest percentage drop since October 1987. \n</p>\n<p>\n  The women's fashion retailer before the market open suspended its 17 cent per share quarterly cash dividend, which has been unchanged since 2021. \n</p>\n<p>\n  The dividend move comes after Cato reported lackluster third-quarter sales, leading the Charlotte, N.C., company to swing to a loss. Sales fell 8%, which it attributed to continued weakness in consumers' discretionary spending, as well as major hurricanes and supply chain issues. \n</p>\n<pre>\n \n</pre>\n<p>\n   Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 22, 2024 11:27 ET (16:27 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cato Shares Head For Lowest Close Since 1997 After Halting Dividend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCato Shares Head For Lowest Close Since 1997 After Halting Dividend\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-23 00:27</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Cato tumbled after the company suspended its quarterly dividend citing challenging economic conditions and slipping sales. \n</p>\n<p>\n  The stock was down 28% to $3.56 in midday trading Friday following an 18% drop on Thursday. Shares were on pace for their lowest close since June 1997 and their largest percentage drop since October 1987. \n</p>\n<p>\n  The women's fashion retailer before the market open suspended its 17 cent per share quarterly cash dividend, which has been unchanged since 2021. \n</p>\n<p>\n  The dividend move comes after Cato reported lackluster third-quarter sales, leading the Charlotte, N.C., company to swing to a loss. Sales fell 8%, which it attributed to continued weakness in consumers' discretionary spending, as well as major hurricanes and supply chain issues. \n</p>\n<pre>\n \n</pre>\n<p>\n   Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 22, 2024 11:27 ET (16:27 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4094","symbol_name":"服装零售","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2485829322","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485829322","pubTimestamp":1732292820,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Cato tumbled after the company suspended its quarterly dividend citing challenging economic conditions and slipping sales.The stock was down 28% to $3.56 in midday trading Friday following an 18% drop on Thursday. 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Shares were on pace for their lowest close since June 1997 and their largest percentage drop since October 1987. \n\n\n  The women's fashion retailer before the market open suspended its 17 cent per share quarterly cash dividend, which has been unchanged since 2021. \n\n\n  The dividend move comes after Cato reported lackluster third-quarter sales, leading the Charlotte, N.C., company to swing to a loss. Sales fell 8%, which it attributed to continued weakness in consumers' discretionary spending, as well as major hurricanes and supply chain issues. \n\n\n \n\n\n   Write to Ben Glickman at ben.glickman@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  November 22, 2024 11:27 ET (16:27 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}