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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cato Corp | NYSE:CATO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.06 | -1.17% | 5.09 | 5.17 | 5.09 | 5.17 | 6,070 | 17:23:38 |
Condensed Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Revenues | ||||
Retail sales | $ 181,181,000 | $ 195,006,000 | $ 371,492,000 | $ 399,939,000 |
Other revenue (principally finance charges, late fees and layaway charges) | 1,690,000 | 1,858,000 | 3,429,000 | 3,646,000 |
Total revenues | 182,871,000 | 196,864,000 | 374,921,000 | 403,585,000 |
COSTS AND EXPENSES, NET | ||||
Cost of goods sold (exclusive of depreciation shown below) | 117,617,000 | 131,749,000 | 239,704,000 | 263,992,000 |
Selling, general and administrative (exclusive of depreciation shown below) | 61,618,000 | 60,768,000 | 123,552,000 | 121,209,000 |
Depreciation | 2,510,000 | 2,811,000 | 4,867,000 | 5,554,000 |
Interest and other income | (1,334,000) | (1,884,000) | (2,231,000) | (2,287,000) |
Cost and expenses, net | 180,411,000 | 193,444,000 | 365,892,000 | 388,468,000 |
Income before income taxes | 2,460,000 | 3,420,000 | 9,029,000 | 15,117,000 |
Income tax expense | 1,333,000 | 5,694,000 | 3,475,000 | 7,643,000 |
Net income (loss) | $ 1,127,000 | $ (2,274,000) | $ 5,554,000 | $ 7,474,000 |
Basic earnings (loss) per share | $ 0.06 | $ (0.11) | $ 0.27 | $ 0.35 |
Diluted earnings (loss) per share | $ 0.06 | $ (0.11) | $ 0.27 | $ 0.35 |
Comprehensive income: | ||||
Net income (loss) | $ 1,127,000 | $ (2,274,000) | $ 5,554,000 | $ 7,474,000 |
Unrealized gain (loss) on available-for-sale securities, net of deferred income taxes of $50 and $156 for the three and six months ended July 29, 2023 and $18 and $(343) for the three and six months ended July 30, 2022, respectively | 167,000 | 61,000 | 522,000 | (1,145,000) |
Comprehensive income (loss) | $ 1,294,000 | $ (2,213,000) | $ 6,076,000 | $ 6,329,000 |
Condensed Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 29, 2023 |
Apr. 29, 2023 |
Jul. 30, 2022 |
Apr. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Consolidated Statements of Income and Comprehensive Income | ||||||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | $ 50 | $ 107 | $ 18 | $ (362) | $ 156 | $ (343) |
Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands |
Jul. 29, 2023 |
Jan. 28, 2023 |
---|---|---|
Class of Stock [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $ 763 | $ 761 |
Preferred Stock Par Or Stated Value Per Share | $ 100 | $ 100 |
Preferred Stock Shares Authorized | 100,000 | 100,000 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 15,000,000 | 15,000,000 |
Common Stock Shares Issued | 1,763,652 | 1,763,652 |
Common Stock Par Or Stated Value Per Share | $ 0.033 | $ 0.033 |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock Shares Issued | 18,825,772 | 18,723,225 |
Common Stock Par Or Stated Value Per Share | $ 0.033 | $ 0.033 |
Condensed Consolidated Statements Of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 29, 2023 |
Apr. 29, 2023 |
Jul. 30, 2022 |
Apr. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Statement of Stockholders' Equity [Abstract] | ||||||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | $ 50 | $ 107 | $ 18 | $ (362) | $ 156 | $ (343) |
Stock Transactions, Parenthetical Disclosures [Abstract] | ||||||
Dividends per share | $ 0.17 | $ 0.17 | $ 0.17 | $ 0.17 |
General |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
General [Abstract] | |
General | NOTE 1 - GENERAL : The condensed consolidated financial statements twenty-six-week ended Corporation and In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements have noted. The interim financial and January 28, 2023. do not include all disclosures required by America. |
Earnings Per Share |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 2 - EARNINGS PER SHARE: Accounting Standard Codification (“ASC”) 260 – Earnings Per Share diluted Earnings Per Share structures. the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). While dividends on Class A shares without declaration of commensurate dividends on Class B shares, the Company has historically paid the same dividends to both Class A and Class B shareholders has resolved to continue this EPS applicable to both Class A and Class Basic weighted average dilution Purchase Plan. Three Months Ended Six Months Ended July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 (Dollars in thousands) Numerator Net earnings (loss) $ 1,127 $ (2,274) $ 5,554 $ 7,474 (Earnings) loss allocated to non-vested equity awards (54) 132 (292) (405) Net earnings (loss) available to common stockholders $ 1,073 $ (2,142) $ 5,262 $ 7,069 Denominator Basic weighted average common shares outstanding 19,395,484 20,005,315 19,349,266 20,077,258 Diluted weighted average common shares outstanding 19,395,484 20,005,315 19,349,266 20,077,258 Net income (loss) per common share Basic earnings (loss) per share $ 0.06 $ (0.11) $ 0.27 $ 0.35 Diluted earnings (loss) per share $ 0.06 $ (0.11) $ 0.27 $ 0.35 |
Accumulated Other Comprehensive Income |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME: The comprehensive income (in thousands) for the Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 29, 2023 $ (883) 164 3 Net current-period other comprehensive income 167 Ending Balance at July 29, 2023 $ (716) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . The comprehensive income (in thousands) for the Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 28, 2023 $ (1,238) 519 3 Net current-period other comprehensive income 522 Ending Balance at July 29, 2023 $ (716) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME The comprehensive income (in thousands) for the Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 30, 2022 $ (1,486) 64 (3) Net current-period other comprehensive income 61 Ending Balance at July 30, 2022 $ (1,425) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . The comprehensive income (in thousands) for the Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 29, 2022 $ (280) (1,139) (6) Net current-period other comprehensive income (1,145) Ending Balance at July 30, 2022 $ (1,425) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 7 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . |
Financing Arrangements |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Financing Arrangements [Abstract] | |
Financing Arrangements | NOTE 4 – FINANCING ARRANGEMENTS: As of July up to $ 35.0 committed limitations, amended the revolving credit EBITDAR coverage ratio to add back certain income tax receivables for purposes of calculating the quarter ended July the no no r reduced facility was zero no |
Reportable Segment Information |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Reportable Segment Information [Abstract] | |
Reportable Segment Information | NOTE 5 – REPORTABLE SEGMENT INFORMATION: The Company four Segment Reporting , including Cato, two including more operating segments may be aggregated into a single reportable segment if aggregation is consistent with the characteristics, products, production processes, clients and The financial and they operating production processes. in a similar manner through a similar The 31 principally in all subsidiary of the Company. NOTE 5 – REPORTABLE SEGMENT INFORMATION The following schedule summarizes certain segment Three Months Ended Six Months Ended July 29, 2023 Retail Credit Total July 29, 2023 Retail Credit Total Revenues $182,213 $658 $182,871 Revenues $373,648 $1,273 $374,921 Depreciation 2,509 1 2,510 Depreciation 4,866 1 4,867 Interest and other income (1,334) - (1,334) Interest and other income (2,231) - (2,231) Income before 2,207 253 2,460 Income before 8,590 439 9,029 Capital expenditures 2,300 - 2,300 Capital expenditures 8,470 - 8,470 Three Months Ended Six Months Ended July 30, 2022 Retail Credit Total July 30, 2022 Retail Credit Total Revenues $196,314 $550 $196,864 Revenues $402,523 $1,062 $403,585 Depreciation 2,810 1 2,811 Depreciation 5,553 1 5,554 Interest and other income (1,884) - (1,884) Interest and other income (2,287) - (2,287) Income before 3,289 131 3,420 Income before 14,903 214 15,117 Capital expenditures 5,944 - 5,944 Capital expenditures 10,384 - 10,384 Retail Credit Total Total assets as of July 29, 2023 $468,923 $38,744 $507,667 Total assets as of January 28, 2023 514,609 38,531 553,140 The allocate certain corporate expenses or The following schedule summarizes the direct expenses general and administrative expenses (in Three Months Ended Six Months Ended July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Payroll $ 142 $ 132 $ 276 $ 269 Postage 109 99 210 192 Other expenses 154 187 348 386 Total expenses $ 405 $ 418 $ 834 $ 847 |
Stock-Based Compensation |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | NOTE 6 – STOCK-BASED COMPENSATION: As compensation Incentive restricted stock and stock options for grant, to officers, directors and key employees. Effective May 24, shares for grant were no longer available The available for grant under each of 2013 2018 Plan Plan Total Options and/or restricted stock initially authorized 1,500,000 4,725,000 6,225,000 Options and/or restricted stock available for grant: - 3,095,601 3,095,601 In Compensation–Stock Compensation , stock awards amortized to compensation expense on a straight-line basis over the related vesting periods. As of July 29, 2023 and 11,597,000 10,543,000 , respectively, compensation average vesting 2.6 2.1 three 1,230,000 2,158,000 , $ 1,403,000 2,006,000 classified as a component Statements of Income (Loss) and Comprehensive Income The following six months ended July Weighted Average Number of Grant Date Fair Shares Value Restricted stock awards at January 28, 2023 1,059,433 $ 13.10 Granted 407,808 8.30 Vested (217,238) 13.97 Forfeited or expired (74,338) 12.28 Restricted stock awards at July 29, 2023 1,175,665 $ 11.33 The number of 15 % discount through payroll Company sold 26,127 12,196 1.31 2.12 respectively, under 15 % discount given under the Employee 34,000 26,000 months ended July 29, 2023 and July 30, 2022, respectively. These expenses are classified as a Selling, general and administrative expenses. |
Fair Value Measurements |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | NOTE 7 The following measured at fair value (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable July 29, 2023 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: $ 19,367 $ - $ 19,367 $ - 30,026 - 30,026 - 21,073 - 21,073 - 9,524 - - 9,524 6,108 - 6,108 - 852 852 - - 648 - 648 - Total Assets $ 87,598 $ 852 $ 77,222 $ 9,524 Liabilities: $ (8,724) $ - $ - $ (8,724) Total Liabilities $ (8,724) $ - $ - $ (8,724) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable January 28, 2023 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: $ 23,102 $ - $ 23,102 $ - 47,901 - 47,901 - 27,250 - 27,250 - 9,274 - - 9,274 9,373 - 9,373 - 923 923 - - 1,026 - 1,026 - Total Assets $ 118,849 $ 923 $ 108,652 $ 9,274 Liabilities: $ (8,903) $ - $ - $ (8,903) Total Liabilities $ (8,903) $ - $ - $ (8,903) The Company’s governmental debt securities held in managed accounts and from one day 2.6 two days 2.6 Restricted cash and Other assets on the accompanying Condensed Consolidated Balance Sheets. These assets are comprehensive income. The asset-backed that carry were originated and serviced by captive auto finance units, banks or finance companies. asset-backed securities are backed by revolving pools of credit card receivables generated by account holders of cards from American Express, Citibank, JPMorgan Additionally, 0.9 compensation plan assets 9.5 0.9 equities and deferred compensation plan assets of $ 9.3 assets in the Condensed Consolidated Balance Level 1 securities are measured at fair value using quoted active market prices. include available on active exchanges for identical determined markets observable market information such as quotes from less active markets and/or quoted prices of securities with similar characteristics, among other factors. Deferred compensation plan based on the cash surrender value of the insurance contract, which is determined based on fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3 valuation compensation obligation, recorded designed to mirror mutual funds and money The measured using Level (in thousands): Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at January 28, 2023 $ 9,274 Redemptions - Additions - Total gains or (losses): changes in net assets) 250 - Ending Balance at July 29, 2023 $ 9,524 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at January 28, 2023 $ (8,903) 646 (162) changes in net assets) (305) - Ending Balance at July 29, 2023 $ (8,724) Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at January 29, 2022 $ 11,472 Redemptions (1,718) Additions - Total gains or (losses): changes in net assets) (480) - Ending Balance at January 28, 2023 $ 9,274 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at January 29, 2022 $ (10,020) 1,142 (379) changes in net assets) 354 - Ending Balance at January 28, 2023 $ (8,903) |
Recent Accounting Pronouncements |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | NOTE 8 – RECENT ACCOUNTING PRONOUNCEMENTS: The Company has reviewed recent accounting pronouncements and impact on the Company’s financial statements. |
Income Taxes |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 9 – INCOME TAXES: The Company had 38.5 % compared to 50.6 % for the first six months of 2022. The change in the effective tax rate for the first six months of 2023 compared to the income taxes, non-deductible officer’s compensation, and increases in foreign tax credits and employment credits, partially offset by the foreign rate differential. |
Commitments And Contingencies |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | NOTE 10 – COMMITMENTS AND CONTINGENCIES: The Company is, from time to time, involved in routine litigation incidental to the conduct of its business, including litigation instituted employment present or former employees. Although such business litigation could does material adverse the could flows deemed probable and reasonably estimable. |
Revenue Recognition |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | NOTE 11 – REVENUE RECOGNITION: The merchandise Cato possession of customer. Gift cards are recorded as deferred cards do not have volumes amounts. proprietary transaction are and accrued) are classified as Cost of goods sold. The Company Company’s wholly-owned None and 151,000 $ 272,000 , respectively, 87,000 173,000 2022, months ended July 5.9 11.7 5.8 and $ 11.5 The customers (in thousands): Balance as of July 29, 2023 January 28, 2023 Proprietary Credit Card Receivables, net $ 10,737 $ 10,553 Gift Card Liability $ 6,924 $ 8,523 |
Leases |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Leases [Abstract] | |
Leases | NOTE 12 – LEASES: The leases for 10 up to five years , and some include options to terminate the lease within one year . The Company considers these The restrictive covenants. As incremental determining the present value of lease payments. The components of lease cost are shown below (in thousands): Three Months Ended July 29, 2023 July 30, 2022 Operating lease cost (a) $ 17,597 $ 17,847 Variable $ 504 $ 578 (a) Includes right-of-use asset amortization of ($ 0.3 ) million and ($ 0.5 ) million for the three months ended July 29, 2023 and July 30, 2022, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the condensed consolidated balance sheets. Six Months Ended July 29, 2023 July 30, 2022 Operating lease cost (a) $ 35,675 $ 35,602 Variable $ 1,098 $ 1,346 (a) Includes right-of-use asset amortization of ($ 0.6 ) million and ($ 0.9 ) million for the six months ended July 29, 2023 and July 30, 2022, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the condensed consolidated balance sheets. Supplemental cash flow as follows (in thousands): Operating cash flow information: Three Months Ended July 29, 2023 July 30, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 16,679 $ 17,038 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 999 $ 2,534 Six Months Ended July 29, 2023 July 30, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 34,024 $ 33,874 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 2,903 $ 6,049 Weighted-average follows: As of July 29, 2023 July 30, 2022 Weighted-average remaining lease term 2.0 2.2 Weighted-average discount rate 3.26% 2.89% Maturities thousands): Fiscal Year 2023 (a) $ 33,897 2024 49,250 2025 32,219 2026 19,094 2027 8,991 Thereafter 1,748 Total lease payments 145,199 Less: Imputed interest 7,378 Present value of lease liabilities $ 137,821 (a) Excluding the six months ended July 29, 2023 |
General (Policies) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
General [Abstract] | |
Consolidation, Policy | The condensed consolidated financial statements twenty-six-week ended Corporation and In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements have noted. |
Basis of Accounting, Policy | The interim financial and January 28, 2023. do not include all disclosures required by America. |
Earnings Per Share (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended Six Months Ended July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 (Dollars in thousands) Numerator Net earnings (loss) $ 1,127 $ (2,274) $ 5,554 $ 7,474 (Earnings) loss allocated to non-vested equity awards (54) 132 (292) (405) Net earnings (loss) available to common stockholders $ 1,073 $ (2,142) $ 5,262 $ 7,069 Denominator Basic weighted average common shares outstanding 19,395,484 20,005,315 19,349,266 20,077,258 Diluted weighted average common shares outstanding 19,395,484 20,005,315 19,349,266 20,077,258 Net income (loss) per common share Basic earnings (loss) per share $ 0.06 $ (0.11) $ 0.27 $ 0.35 Diluted earnings (loss) per share $ 0.06 $ (0.11) $ 0.27 $ 0.35 |
Accumulated Other Comprehensive Income (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Accumulated Other Comprehensive Income [Abstract] | |
Reclassification out of Accumulated Other Comprehensive Income Loss | Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 29, 2023 $ (883) 164 3 Net current-period other comprehensive income 167 Ending Balance at July 29, 2023 $ (716) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 28, 2023 $ (1,238) 519 3 Net current-period other comprehensive income 522 Ending Balance at July 29, 2023 $ (716) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 30, 2022 $ (1,486) 64 (3) Net current-period other comprehensive income 61 Ending Balance at July 30, 2022 $ (1,425) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 4 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 29, 2022 $ (280) (1,139) (6) Net current-period other comprehensive income (1,145) Ending Balance at July 30, 2022 $ (1,425) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 7 income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 1 . |
Reportable Segment Information (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Reportable Segment Information [Abstract] | |
Schedule Of Segment Reporting Information, By Segment | Three Months Ended Six Months Ended July 29, 2023 Retail Credit Total July 29, 2023 Retail Credit Total Revenues $182,213 $658 $182,871 Revenues $373,648 $1,273 $374,921 Depreciation 2,509 1 2,510 Depreciation 4,866 1 4,867 Interest and other income (1,334) - (1,334) Interest and other income (2,231) - (2,231) Income before 2,207 253 2,460 Income before 8,590 439 9,029 Capital expenditures 2,300 - 2,300 Capital expenditures 8,470 - 8,470 Three Months Ended Six Months Ended July 30, 2022 Retail Credit Total July 30, 2022 Retail Credit Total Revenues $196,314 $550 $196,864 Revenues $402,523 $1,062 $403,585 Depreciation 2,810 1 2,811 Depreciation 5,553 1 5,554 Interest and other income (1,884) - (1,884) Interest and other income (2,287) - (2,287) Income before 3,289 131 3,420 Income before 14,903 214 15,117 Capital expenditures 5,944 - 5,944 Capital expenditures 10,384 - 10,384 Retail Credit Total Total assets as of July 29, 2023 $468,923 $38,744 $507,667 Total assets as of January 28, 2023 514,609 38,531 553,140 |
Direct Expenses of Credit Segment in SGA | Three Months Ended Six Months Ended July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Payroll $ 142 $ 132 $ 276 $ 269 Postage 109 99 210 192 Other expenses 154 187 348 386 Total expenses $ 405 $ 418 $ 834 $ 847 |
Stock Based Compensation (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Stock-Based Compensation [Abstract] | |
Schedule Of Changes In Restricted Stock Outstanding | 2013 2018 Plan Plan Total Options and/or restricted stock initially authorized 1,500,000 4,725,000 6,225,000 Options and/or restricted stock available for grant: - 3,095,601 3,095,601 |
Schedule of Stock Options Outstanding | Weighted Average Number of Grant Date Fair Shares Value Restricted stock awards at January 28, 2023 1,059,433 $ 13.10 Granted 407,808 8.30 Vested (217,238) 13.97 Forfeited or expired (74,338) 12.28 Restricted stock awards at July 29, 2023 1,175,665 $ 11.33 |
Fair Value Measurements (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Fair Value Measurements [Abstract] | |
Financial Assets And Liabilities Measured At Fair Value | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable July 29, 2023 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: $ 19,367 $ - $ 19,367 $ - 30,026 - 30,026 - 21,073 - 21,073 - 9,524 - - 9,524 6,108 - 6,108 - 852 852 - - 648 - 648 - Total Assets $ 87,598 $ 852 $ 77,222 $ 9,524 Liabilities: $ (8,724) $ - $ - $ (8,724) Total Liabilities $ (8,724) $ - $ - $ (8,724) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable January 28, 2023 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: $ 23,102 $ - $ 23,102 $ - 47,901 - 47,901 - 27,250 - 27,250 - 9,274 - - 9,274 9,373 - 9,373 - 923 923 - - 1,026 - 1,026 - Total Assets $ 118,849 $ 923 $ 108,652 $ 9,274 Liabilities: $ (8,903) $ - $ - $ (8,903) Total Liabilities $ (8,903) $ - $ - $ (8,903) |
Change In Fair Value Of Financial Assets And Liabilities Measured Using Level 3 Inputs | Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at January 28, 2023 $ 9,274 Redemptions - Additions - Total gains or (losses): changes in net assets) 250 - Ending Balance at July 29, 2023 $ 9,524 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at January 28, 2023 $ (8,903) 646 (162) changes in net assets) (305) - Ending Balance at July 29, 2023 $ (8,724) Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at January 29, 2022 $ 11,472 Redemptions (1,718) Additions - Total gains or (losses): changes in net assets) (480) - Ending Balance at January 28, 2023 $ 9,274 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at January 29, 2022 $ (10,020) 1,142 (379) changes in net assets) 354 - Ending Balance at January 28, 2023 $ (8,903) |
Revenue Recognition (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Revenue Recognition [Abstract] | |
Receivables And Contract Liabilities From Contracts With Customers | Balance as of July 29, 2023 January 28, 2023 Proprietary Credit Card Receivables, net $ 10,737 $ 10,553 Gift Card Liability $ 6,924 $ 8,523 |
Leases (Tables) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Leases [Abstract] | |
Components Of Lease Cost | Three Months Ended July 29, 2023 July 30, 2022 Operating lease cost (a) $ 17,597 $ 17,847 Variable $ 504 $ 578 (a) Includes right-of-use asset amortization of ($ 0.3 ) million and ($ 0.5 ) million for the three months ended July 29, 2023 and July 30, 2022, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the condensed consolidated balance sheets. Six Months Ended July 29, 2023 July 30, 2022 Operating lease cost (a) $ 35,675 $ 35,602 Variable $ 1,098 $ 1,346 (a) Includes right-of-use asset amortization of ($ 0.6 ) million and ($ 0.9 ) million for the six months ended July 29, 2023 and July 30, 2022, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the condensed consolidated balance sheets. |
Operating Cash Flow Information | Operating cash flow information: Three Months Ended July 29, 2023 July 30, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 16,679 $ 17,038 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 999 $ 2,534 Six Months Ended July 29, 2023 July 30, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 34,024 $ 33,874 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 2,903 $ 6,049 |
Weighted-Average Remaining Lease Term And Discount Rate | As of July 29, 2023 July 30, 2022 Weighted-average remaining lease term 2.0 2.2 Weighted-average discount rate 3.26% 2.89% |
Maturities Of Lease Liabilities By Fiscal Year | Fiscal Year 2023 (a) $ 33,897 2024 49,250 2025 32,219 2026 19,094 2027 8,991 Thereafter 1,748 Total lease payments 145,199 Less: Imputed interest 7,378 Present value of lease liabilities $ 137,821 (a) Excluding the six months ended July 29, 2023 |
General (Narrative) (Details) - $ / shares |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jul. 29, 2023 |
Apr. 29, 2023 |
Jul. 30, 2022 |
Apr. 30, 2022 |
Jul. 29, 2023 |
|
Subsequent Event [Line Items] | |||||
Quarterly Declared Dividend | $ 0.17 | $ 0.17 | $ 0.17 | $ 0.17 | |
Fiscal period | 182 days |
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 29, 2023 |
Apr. 29, 2023 |
Jul. 30, 2022 |
Apr. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Earnings Per Share [Abstract] | ||||||
Net earnings (loss) | $ 1,127 | $ 4,428 | $ (2,274) | $ 9,748 | $ 5,554 | $ 7,474 |
(Earnings) loss allocated to non-vested equity awards | (54) | 132 | (292) | (405) | ||
Net earnings (loss) available to common stockholders | $ 1,073 | $ (2,142) | $ 5,262 | $ 7,069 | ||
Basic weighted average common shares outstanding | 19,395,484 | 20,005,315 | 19,349,266 | 20,077,258 | ||
Diluted weighted average common shares outstanding | 19,395,484 | 20,005,315 | 19,349,266 | 20,077,258 | ||
Basic earnings (loss) per share | $ 0.06 | $ (0.11) | $ 0.27 | $ 0.35 | ||
Diluted earnings (loss) per share | $ 0.06 | $ (0.11) | $ 0.27 | $ 0.35 |
Accumulated Other Comprehensive Income (Reclassification out of Accumulated Other Comprehensive Income Loss) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 29, 2023 |
Apr. 29, 2023 |
Jul. 30, 2022 |
Apr. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning Balance | $ (1,238) | $ (1,238) | ||||
Net current-period other comprehensive income | $ 167 | 355 | $ 61 | $ (1,206) | 522 | $ (1,145) |
Ending Balance | (716) | (716) | ||||
Changes in Accumulated Other Comprehensive Income Unrealized Gains And (Losses) On Available-for-Sale Securities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning Balance | (883) | (1,238) | (1,486) | (280) | (1,238) | (280) |
Other comprehensive income before reclassification | 164 | 64 | 519 | (1,139) | ||
Amounts reclassified from accumulated other comprehensive income | 3 | (3) | 3 | (6) | ||
Net current-period other comprehensive income | 167 | 61 | 522 | (1,145) | ||
Ending Balance | $ (716) | $ (883) | $ (1,425) | $ (1,486) | $ (716) | $ (1,425) |
Accumulated Other Comprehensive Income (Footnote) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Tax impact of reclassification | $ 1,333 | $ 5,694 | $ 3,475 | $ 7,643 |
Reclassified Accumulated Unrealized Gains and Losses | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest and Other Income | 4 | 4 | 4 | 7 |
Tax impact of reclassification | $ 1 | $ 1 | $ 1 | $ 1 |
Financing Arrangements (Narrative) (Details) - Revolving Credit Facility [Member] |
Jul. 29, 2023
USD ($)
|
---|---|
Line of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000.0 |
Borrowings outstanding | 0 |
Outstanding letters of credit | $ 0 |
Weighted average interest | 0.00% |
Reportable Segment Information (Schedule of Segment Reporting Information, By Segment) (Details) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jul. 29, 2023
USD ($)
States
|
Jul. 30, 2022
USD ($)
|
Jul. 29, 2023
USD ($)
Segments
States
|
Jul. 30, 2022
USD ($)
|
Jan. 28, 2023
USD ($)
|
|
Segment Reporting Information [Line Items] | |||||
Operating segments | Segments | 4 | ||||
Reportable segments | Segments | 2 | ||||
Number of States in which Entity Operates | States | 31 | 31 | |||
Revenues | $ 182,871,000 | $ 196,864,000 | $ 374,921,000 | $ 403,585,000 | |
Depreciation | 2,510,000 | 2,811,000 | 4,867,000 | 5,554,000 | |
Interest and other income | (1,334,000) | (1,884,000) | (2,231,000) | (2,287,000) | |
Income before income taxes | 2,460,000 | 3,420,000 | 9,029,000 | 15,117,000 | |
Capital expenditures | 2,300,000 | 5,944,000 | 8,470,000 | 10,384,000 | |
Total assets | 507,667,000 | 507,667,000 | $ 553,140,000 | ||
Retail Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 182,213,000 | 196,314,000 | 373,648,000 | 402,523,000 | |
Depreciation | 2,509,000 | 2,810,000 | 4,866,000 | 5,553,000 | |
Interest and other income | (1,334,000) | (1,884,000) | (2,231,000) | (2,287,000) | |
Income before income taxes | 2,207,000 | 3,289,000 | 8,590,000 | 14,903,000 | |
Capital expenditures | 2,300,000 | 5,944,000 | 8,470,000 | 10,384,000 | |
Total assets | 468,923,000 | 468,923,000 | 514,609,000 | ||
Credit Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 658,000 | 550,000 | 1,273,000 | 1,062,000 | |
Depreciation | 1,000 | 1,000 | 1,000 | 1,000 | |
Interest and other income | 0 | 0 | 0 | 0 | |
Income before income taxes | 253,000 | 131,000 | 439,000 | 214,000 | |
Capital expenditures | 0 | $ 0 | 0 | $ 0 | |
Total assets | $ 38,744,000 | $ 38,744,000 | $ 38,531,000 |
Reportable Segment Information (Direct Expenses of Credit Segment in SGA) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Segment Reporting Information [Line Items] | ||||
Total expenses | $ 61,618 | $ 60,768 | $ 123,552 | $ 121,209 |
Credit Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payroll | 142 | 132 | 276 | 269 |
Postage | 109 | 99 | 210 | 192 |
Other expenses | 154 | 187 | 348 | 386 |
Total expenses | $ 405 | $ 418 | $ 834 | $ 847 |
Stock-Based Compensation (Narrative) (Details) - Common Class A [Member] - USD ($) |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
Jan. 28, 2023 |
|
Restricted Stock [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized Compensation Expense | $ 11,597,000 | $ 11,597,000 | $ 10,543,000 | ||
Remaining Weighted-Average Vesting Period | 2 years 7 months 6 days | 2 years 1 month 6 days | |||
Compensation Expense | $ 1,230,000 | $ 1,403,000 | $ 2,158,000 | $ 2,006,000 | |
Employee Stock Purchase Plan Share Purchase Discount Rate | 15.00% | 15.00% | |||
Employee Stock Purchase Plan [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares Sold | 26,127 | 12,196 | |||
Compensation Expense | $ 34,000 | $ 26,000 | |||
Employee Stock Purchase Plan Share Purchase Discount | $ 1.31 | $ 2.12 | $ 1.31 | $ 2.12 |
Stock-Based Compensation (Stock Based Compensation Plans) (Details) - Options and or restricted stock [Member] |
Jul. 29, 2023
shares
|
---|---|
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options And/Or Restricted Stock Initially Authorized | 6,225,000 |
Options And/Or Restricted Stock Available For Grant | 3,095,601 |
2013 Plan [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options And/Or Restricted Stock Initially Authorized | 1,500,000 |
Options And/Or Restricted Stock Available For Grant | 0 |
2018 Plan [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options And/Or Restricted Stock Initially Authorized | 4,725,000 |
Options And/Or Restricted Stock Available For Grant | 3,095,601 |
Income Taxes (Narrative) (Details) |
6 Months Ended | |
---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Income Taxes [Abstract] | ||
Effective Income Tax Rate | 38.50% | 50.60% |
Revenue Recognition (Narrative) (Details) - Sales on Company's Proprietary Credit Card [Member] - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Revenue Recognition [Line Items] | ||||
Customer credit losses | $ 151,000 | $ 87,000 | $ 272,000 | $ 173,000 |
Revenue from Contract with Customer, Excluding Assessed Tax | 5,900,000 | $ 5,800,000 | 11,700,000 | $ 11,500,000 |
Secured [Member] | ||||
Revenue Recognition [Line Items] | ||||
Receivable | $ 0 | $ 0 |
Revenue Recognition (Receivables And Contract Liabilities From Contracts With Customers) (Details) - USD ($) $ in Thousands |
Jul. 29, 2023 |
Jan. 28, 2023 |
---|---|---|
Revenue Recognition [Abstract] | ||
Proprietary Credit Card Receivables Net | $ 10,737 | $ 10,553 |
Gift Card Liability | $ 6,924 | $ 8,523 |
Leases (Narrative) (Details) |
6 Months Ended |
---|---|
Jul. 29, 2023 | |
Lease, Cost [Abstract] | |
Options to extend the lease term | five years |
Option to terminate the lease | within one year |
Maximum [Member] | |
Lease, Cost [Abstract] | |
Remaining lease terms | 10 years |
Leases (Components Of Lease Cost) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Lease, Cost [Abstract] | ||||
Operating lease cost | $ 17,597 | $ 17,847 | $ 35,675 | $ 35,602 |
Variable lease cost | 504 | 578 | 1,098 | 1,346 |
Right-of-use asset amortization | $ 300 | $ 500 | $ 600 | $ 900 |
Leases (Operating Cash Flow Information) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 29, 2023 |
Jul. 30, 2022 |
Jul. 29, 2023 |
Jul. 30, 2022 |
|
Lease, Cost [Abstract] | ||||
Cash paid for amounts included in the measurement of lease liabilities | $ 16,679 | $ 17,038 | $ 34,024 | $ 33,874 |
Right-of-use assets obtained in exchange for lease obligations | $ 999 | $ 2,534 | $ 2,903 | $ 6,049 |
Leases (Weighted-Average Remaining Lease Term And Discount Rate) (Details) |
Jul. 29, 2023 |
Jul. 30, 2022 |
---|---|---|
Lease, Cost [Abstract] | ||
Weighted-average remaining lease term | 2 years | 2 years 2 months 12 days |
Weighted-average discount rate | 3.26% | 2.89% |
Leases (Maturities Of Lease Liabilities By Fiscal Year) (Details) $ in Thousands |
Jul. 29, 2023
USD ($)
|
---|---|
Leases [Abstract] | |
2023 | $ 33,897 |
2024 | 49,250 |
2025 | 32,219 |
2026 | 19,094 |
2027 | 8,991 |
Thereafter | 1,748 |
Total lease payments | 145,199 |
Less: Imputed interest | 7,378 |
Present value of lease liabilities | $ 137,821 |
1 Year Cato Chart |
1 Month Cato Chart |
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