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The Cato Corporation: Cato Reports 1Q Net Income


The Cato Corporation: Cato Reports 1Q Net Income
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 ....

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SASE Adoption Grows Among Fortune 500 as Cato Networks Reports Multiple 1,000 Site Deployments and Fourth Consecutive Year of Over 200% Growth


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Large enterprise deployments, exponential growth, and $1B valuation underscore strong adoption of Cato s groundbreaking SASE platform
TEL AVIV, Israel, Feb. 23, 2021 /PRNewswire/ Cato Networks, the provider of the world s first SASE platform, reported today its incredible 2020 financial results that saw bookings grow by over 200% for the fourth consecutive year, the signing of multiple Fortune 500 organizations and 1,000+ site deployments. Cato s business momentum drove an additional $207 million investment across two financing rounds and more than a $1B valuation. 800 enterprises with 9000 locations and 200,000 remote users rely on Cato SASE Cloud every day.
SASE has become the de facto standard for building the secure network of the digital business. Cato strongly benefitted from this trend that accelerated due to the global pandemic, says Shlomo Kramer, CEO and co-founder of Cato Networks. The most demanding enterprises adopted Cato SASE for its simplicity, ....

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