EXHIBIT 99.2
NEWS RELEASE
FOR IMMEDIATE RELEASE
For Further Information Contact:
InvestorRelations@catocorp.com
THE CATO
CORPORATION SUSPENDS REGULAR QUARTERLY
DIVIDEND
CHARLOTTE, N.C. (November 21, 2024) – In light of the current economic conditions and current sales trends
the Board of Directors of The Cato Corporation (NYSE: CATO)
suspended the regular quarterly dividend.
Statements in this press release
that express a belief, expectation or intention, as
well as those that are not a historical fact,
ncluding,
without limitation, statements regarding
the Company’s
expected or estimated operational financial results,
activities or
opportunities, and potential impacts and effects of interest
rates, inflation or other factors that may affect our customers’
discretionary spending or our costs are
considered “forward-looking”
within the meaning of The Private Securities Litigation Reform
Act of 1995.
Such forward-looking statements are
based on current expectations that are
subject to known and unknown risks,
uncertainties and other factors that could cause actual results
to differ materially from those contemplated
by the forward-looking
statements.
Such factors include, but are not limited to, any
actual or perceived deterioration in, or continuation
of negative trends in,
the conditions that drive consumer confidence and spending, including,
but not limited to, prevailing social, economic,
political and
public health conditions and uncertainties, levels of unemployment, fuel,
energy and food costs, inflation, wage rates, tax rates,
interest rates, home values, consumer net worth and
the availability of credit; changes in laws, regulations
or government policies
affecting our business including but not limited to tariffs; uncertainties regarding
the impact of any governmental action regarding,
or
responses to, the foregoing
conditions; competitive factors and pricing pressures;
our ability to predict and respond
to rapidly
changing fashion trends and consumer demands;
our ability to successfully implement our new store development
strategy to increase
new store openings and the ability of any such new
stores to grow and perform
as expected; underperformance or other factors that
may lead to, or affect the volume of, store closures;
adverse weather,
public health threats (including the global
coronavirus (COVID-
19) outbreak), acts of war or aggression
or similar conditions that may affect our merchandise
supply chain, sales or operations;
inventory risks due to shifts in market demand, including the ability to liquidate
excess inventory at anticipated margins; adverse
developments or volatility affecting the financial services industry or broader
financial markets; and other factors discussed under
“Risk Factors” in Part I, Item 1A
of the Company’s
most recently filed annual report
on Form 10-K and in other reports the
Company files with or furnishes to the SEC from time to
time.
The Company does not undertake to publicly update or revise
the
forward-looking statements even if experience
or future changes make it clear that the projected
results expressed or implied
therein
will not be realized. The Company is not responsible
for any changes made to this press release
by wire or Internet services.
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