CHARLOTTE, N.C., Nov. 22,
2024 /PRNewswire/ -- In light of the current
economic conditions and current sales trends the Board of Directors
of The Cato Corporation (NYSE: CATO) suspended the regular
quarterly dividend.
Statements in this press release that express a belief,
expectation or intention, as well as those that are not a
historical fact, including, without limitation,
statements regarding the Company's expected or estimated
operational financial results, activities or opportunities, and
potential impacts and effects of interest rates, inflation or other
factors that may affect our customers' discretionary spending or
our costs are considered "forward-looking" within the meaning of
The Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on current expectations that
are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those contemplated by the forward-looking
statements. Such factors include, but are not limited
to, any actual or perceived deterioration in, or
continuation of negative trends in, the conditions that drive
consumer confidence and spending, including, but not limited to,
prevailing social, economic, political and public health conditions
and uncertainties, levels of unemployment, fuel, energy and food
costs, inflation, wage rates, tax rates, interest rates, home
values, consumer net worth and the availability of credit; changes
in laws, regulations or government policies affecting our business
including but not limited to tariffs; uncertainties regarding the
impact of any governmental action regarding, or responses to, the
foregoing conditions; competitive factors and pricing pressures;
our ability to predict and respond to rapidly changing fashion
trends and consumer demands; our ability to successfully implement
our new store development strategy to increase new store openings
and the ability of any such new stores to grow and perform as
expected; underperformance or other factors that may lead to, or
affect the volume of, store closures; adverse weather, public
health threats (including the global coronavirus (COVID-19)
outbreak), acts of war or aggression or similar conditions that may
affect our merchandise supply chain, sales or operations; inventory
risks due to shifts in market demand, including the ability to
liquidate excess inventory at anticipated margins; adverse
developments or volatility affecting the financial services
industry or broader financial markets; and other factors discussed
under "Risk Factors" in Part I, Item 1A of the Company's most
recently filed annual report on Form 10-K and in other reports the
Company files with or furnishes to the SEC from time to time. The
Company does not undertake to publicly update or revise the
forward-looking statements even if experience or future changes
make it clear that the projected results expressed or implied
therein will not be realized. The Company is not responsible for
any changes made to this press release by wire or Internet
services.
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SOURCE The Cato Corporation
