Cato Reports 1Q Net Income News provided by Share this article Share this article CHARLOTTE, N.C., May 20, 2021 /PRNewswire/ -- The Cato Corporation (NYSE: CATO) today reported net income of $20.7 million or $0.92 per diluted share for the first quarter ended May 1, 2021, compared to a net loss of $28.4 million or ($1.19) per diluted share for the first quarter ended May 2, 2020. Sales for fiscal 2020 were significantly impacted by the closure of our stores for six weeks due to the COVID-19 pandemic, beginning March 19, 2020. Due to the impact of the unprecedented closures, the Company will report sales compared to each of the past two years. Sales for the first quarter were $211.2 million, or an increase of 114% from sales of $98.8 million for the first quarter ended May 2, 2020. Compared to the same period in 2019, sales decreased 7% from sales of $228.3 million for the quarter ended May 4, 2019. The Company's same-store sales for the quarter increased 111% compared to 2020 and decreased 8% when compared to the same period in 2019.