Cato 2020 Annual Meeting Highlights
(WorldNews Business)

CHARLOTTE, N.C., May 22, 2020 /PRNewswire/ -- The Cato Corporation (NYSE: CATO) held its Annual Shareholders` Meeting yesterday, reporting increases in net income and earnings per diluted share for 2019. Cato`s net income in 2019 was $35.9 million – up 18 percent from 2018, which was up 257 percent from 2017. Earnings per share totaled $1.46 – a 19 percent increase from 2018, which was a 262 percent increase from 2017. The company ended 2019 with more than $212 million in unrestricted cash and investments, and it remained debt-free throughout 2019. `We are encouraged that even during a major transformation in retail, we grew our business in 2019 after stabilizing it in 2018,` said John Cato,...