Latest / Bloomberg Intelligence / Bloomberg's Wilson on Stock of the Day: Cato (CATO) (Audio)

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Bloomberg's Wilson on Stock of the Day: Cato (CATO) (Audio) · Bloomberg Intelligence

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  Speaker 1: All right, Dave, you're up. Hi. My name is Dave.
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  Speaker 1: Just what do you think you're doing? We're going for
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  Speaker 1: the prankdown Wilson, Dave Dave. Kato so women's apparel retailer
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  Speaker 1: that does business mainly in the South. The company has
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  Speaker 1: three chains, Kato Fashions, Versna and its Fashion. Kato takes
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  Speaker 1: its name and ticker see a t O from its
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  Speaker 1: founding family, Whalen Kato and two sons, whale And Junior
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  Speaker 1: and Edgar, started the company seventy years ago. Well and
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  Speaker 1: junior son John Cato, has been chief executive since n
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  Speaker 1: and chairman since two thousand four. Now Kato shares have
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  Speaker 1: been publicly traded for almost forty eight years. They set
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  Speaker 1: a record in February of last year and have worked
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  Speaker 1: their way lower since then. The retreat worse than today
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  Speaker 1: after the company cut its fiscal third quarter profit forecast.
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  Speaker 1: Kato now expects to earn no more than the eleven
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  Speaker 1: cents a share, down from a peak of eighteen cents.
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  Speaker 1: The movie was made after September sales at stories open
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  Speaker 1: more than a year decline. Nine analysts on the expected
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  Speaker 1: a four percent drop for the month. According to a
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  Speaker 1: survey by Retail Metrics. Those disappointments sent Kato's shares tumbling
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  Speaker 1: ten and that was the stocks biggest drop since March.
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  Speaker 1: Thank you very much, Dave Wilson, Bloomberg Stocks Commas. Go
• 1:20
  Speaker 1: ahead follow him on and follow him on Twitter at
• 1:23
  Speaker 1: the One Dave. You can follow Kathleen Hayes at Kathleen
• 1:26
  Speaker 1: Underscore Hayes, and you can follow me on Twitter at
• 1:30
  Speaker 1: pim Fox. This is taking Stock and this is Bloomberg