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Cato fiscal Q2 profit climbs 6.5% YOY

Cato Corp. said its normalized net income for the fiscal second quarter ended Aug. 2 came to 56 cents per share, a gain of 11.8% from 50 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.4 million, a gain of 6.5% from $14.4 million in the year-earlier period.

The normalized profit margin rose to 6.3% from 6.2% in the year-earlier period.

Total revenue increased 6.4% year over year to $246.5 million from $231.7 million, and total operating expenses climbed 6.4% on an annual basis to $222.8 million from $209.4 million.

Reported net income grew from the prior-year period to $15.3 million, or 56 cents per share, from $14.7 million, or 51 cents per share.