What changed in this filing

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Item 1. Financial Statements

2025-11-25 compared with 2025-08-28 · 257 added, 305 removed, 546 unchanged (51% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS

OF INCOME AND

COMPREHENSIVE INCOME

OF INCOME (LOSS) AND

COMPREHENSIVE INCOME (LOSS)

Three Months Ended

Six Months Ended

August 2, 2025

August 3, 2024

August 2, 2025

August 3, 2024

Nine Months Ended

(Dollars in thousands, except per share data)

4 unchanged sentences

Cost of goods sold (exclusive of depreciation shown

Selling, general and administrative (exclusive of

Selling, general and administrative (exclusive of depreciation

Interest and other income

Costs and expenses, net

Income before income taxes

(Loss) income before income taxes

Income tax (benefit) expense

Basic earnings per share

Diluted earnings per share

Net (loss) income

Basic (loss) earnings per share

Diluted (loss) earnings per share

Comprehensive income:

Net (loss) income

Net unrealized gain (loss) on available-for-sale securities

for each of the three and

six months ended

August 2, 2025 and August 3, 2024, respectively

Comprehensive income

See notes to condensed consolidated financial statements (unaudited).

for each of the three and nine months ended

November 1, 2025 and November 2, 2024, respectively

Comprehensive (loss) income

ee notes to condensed consolidated financial statements (unaudited).

THE CATO CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

August 2, 2025

November 1, 2025

February 1, 2025

5 unchanged sentences

Accounts receivable, net of allowance for customer credit losses of

at August 2, 2025 and February 1, 2025, respectively

at November 1, 2025 and February 1, 2025, respectively

Merchandise inventories

13 unchanged sentences

Lease liability

Commitments and contingencies (Note 10)

Stockholders' Equity:

4 unchanged sentences

shares authorized;

issued at August 2, 2025 and February 1, 2025, respectively

issued at November 1, 2025 and February 1, 2025, respectively

Convertible Class B common stock, $

1 unchanged sentence

shares authorized;

issued at August 2, 2025 and February 1, 2025

issued at November 1, 2025 and February 1, 2025

Additional paid-in capital

3 unchanged sentences

Total Liabilities and Stockholders' Equity

See notes to condensed consolidated financial statements (unaudited).

ee notes to condensed consolidated financial statements (unaudited).

THE CATO CORPORATION

1 unchanged sentence

OF CASH FLOWS

Six Months Ended

August 2, 2025

August 3, 2024

Nine Months Ended

November 1, 2025

November 2, 2024

(Dollars in thousands)

Operating Activities:

Adjustments to reconcile net income to net cash provided

by operating activities:

Net income (loss)

Adjustments to reconcile net income (loss) to net cash provided

(used) in operating activities:

Provision for customer credit losses

8 unchanged sentences

Operating lease right-of-use assets and liabilities

Accrued income taxes

Accounts payable, accrued expenses and other liabilities

Net cash provided by operating activities

Net cash provided (used) in operating activities

Investing Activities:

3 unchanged sentences

Sales of other assets

Net cash (used in) provided by investing activities

Net cash (used) provided by investing activities

Financing Activities:

3 unchanged sentences

Net cash used in financing activities

Net increase in cash, cash equivalents, and restricted cash

Net increase (decrease) in cash, cash equivalents, and restricted cash

Cash, cash equivalents, and restricted cash at beginning of period

2 unchanged sentences

Accrued other assets and property and equipment expenditures

See notes to condensed consolidated financial statements (unaudited).

ee notes to condensed consolidated financial statements (unaudited).

THE CATO CORPORATION

CONDENSED CONSOLIDATED STATEMENTS

CONDENSED CONSOLIDATED

OF STOCKHOLDERS’ EQUITY

4 unchanged sentences

Comprehensive income:

Unrealized net gain on available-for-sale securities, net of

Unrealized net gain on available-for-sale securities, net

deferred income tax benefit of $

5 unchanged sentences

Comprehensive income:

Unrealized net gain on available-for-sale securities, net of

deferred income tax benefit of $

Unrealized net gain on available-for-sale securities, net

deferred income tax expense of $

Share-based compensation expense

1 unchanged sentence

Balance — August 2, 2025

See notes to condensed consolidated financial statements (unaudited).

Comprehensive income:

Unrealized net gain on available-for-sale securities, net

deferred income tax benefit of $

Class A common stock sold through employee stock purchase

Share-based compensation expense

Balance — November 1, 2025

ee notes to condensed consolidated financial statements (unaudited).

THE CATO CORPORATION

15 unchanged sentences

Comprehensive income:

Unrealized net gain on available-for-sale securities, net of

deferred income tax benefit of $

Unrealized net gain on available-for-sale securities, net

deferred income tax expense of $

Dividends paid ($

2 unchanged sentences

Balance — August 3, 2024

See notes to condensed consolidated financial statements (unaudited).

Comprehensive income:

Unrealized net gain on available-for-sale securities, net

deferred income tax expense of $

Dividends paid ($

Class A common stock sold through employee stock purchase

Share-based compensation expense

Repurchase and retirement of treasury shares

Balance — November 2, 2024

ee notes to condensed consolidated financial statements (unaudited).

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 1 - GENERAL

The condensed

consolidated financial

statements as

prepared from

the accounting

Corporation and

its wholly-owned

subsidiaries (the

“Company”), and

management, all

adjustments considered

necessary for

the financial

statements have

been included.

adjustments are

months ended November 1, 2025 and November 2,

2024 have been prepared from the accounting records

Corporation and its wholly-owned

subsidiaries (the “Company”), and all

amounts shown are

In the opinion of management, all adjustments considered necessary for a fair statement of the

financial statements

normal, recurring

nature unless

The results of the interim periods

may not be indicative of the results expected for the entire year.

otherwise noted.

interim periods

be indicative

results expected

The interim financial

2 unchanged sentences

the consolidated financial statements

of February 1,

2025 have been

derived from the

2 unchanged sentences

disclosures required by

accounting principles

generally accepted in

accounting principles generally

accepted in the

United States of America.

3 unchanged sentences

The sale resulted in a

Consolidated Statements of Income and Comprehensive Income

in the first quarter of fiscal 2024.

million which

the accompanying

Consolidated Statements of Income

(Loss) and Comprehensive Income

(Loss) for the

nine months ended

November 2, 2024.

settlement and sale of its corporate jet.

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 2 - EARNINGS PER SHARE:

7 unchanged sentences

The Company has presented one basic EPS and one diluted EPS amount for all common shares in

the accompanying

Condensed Consolidated

Statements of

Comprehensive Income.

Company’s certificate

of incorporation

declare dividends

historically paid the same dividends to both Class A and Class B shareholders and the

Board of Directors has

resolved to continue this practice.

Accordingly, the Company’s allocation of income for purposes of the EPS

computation is the same

for Class A and

Class B shares and

the EPS amounts reported

herein are applicable

to both Class A and Class B

weighted average

common shares

outstanding for

Purchase Plan, of which there were

none for the periods presented

the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

incorporation

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

and the Board of Directors

has resolved to continue this

Accordingly, the Company’s allocation

of income for purposes

applicable to both Class A and Class

income (loss)

less earnings

non-vested equity

awards divided

Stock Purchase Plan, of which there were none

for the periods presented below.

Three Months Ended

Six Months Ended

August 2, 2025

August 3, 2024

August 2, 2025

August 3, 2024

Nine Months Ended

(Dollars in thousands, except per share data)

Net earnings (loss)

Earnings allocated to non-vested equity awards

Net earnings available to common stockholders

Net earnings (loss) available to common stockholders

Basic weighted average common shares outstanding

1 unchanged sentence

Net income per common share

Basic earnings per share

Diluted earnings per share

Basic earnings (loss) per share

Diluted earnings (loss) per share

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME:

1 unchanged sentence

income (in thousands) for the

three months ended August 2, 2025:

three months ended November 1, 2025:

Changes in Accumulated Other

3 unchanged sentences

Available-for-Sale

Beginning Balance at May 3, 2025

Beginning Balance at August 2, 2025

Other comprehensive income before

3 unchanged sentences

Net current-period other comprehensive income

Ending Balance at August 2, 2025

Ending Balance at November 1, 2025

(a) All amounts are net-of-tax.

1 unchanged sentence

income (in thousands) for the

six months ended August 2, 2025:

nine months ended November 1, 2025:

Changes in Accumulated Other

9 unchanged sentences

Net current-period other comprehensive income

Ending Balance at August 2, 2025

Ending Balance at November 1, 2025

(a) All amounts are net-of-tax.

2 unchanged sentences

impact of Accumulated other comprehensive income reclassifications into Interest and other

income for net realized gains on available-for-sale securities.

ncome for net realized gains on available-for-sale securities.

The tax impact of this reclassification was

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME

1 unchanged sentence

income (in thousands) for the

three months ended August 3, 2024:

three months ended November 2, 2024:

Changes in Accumulated Other

3 unchanged sentences

Available-for-Sale

Beginning Balance at May 4, 2024

Beginning Balance at August 3, 2024

Other comprehensive income before

1 unchanged sentence

Amounts reclassified from accumulated

other comprehensive income (b)

other comprehensive income

Net current-period other comprehensive income

Ending Balance at August 3, 2024

Ending Balance at November 2, 2024

(a) All amounts are net-of-tax.

Amounts in parentheses indicate a debit/reduction to accumulated other comprehensive income.

(b) Includes $

impact of Accumulated other comprehensive income reclassifications into Interest and other

income for net realized gains on available-for-sale securities.

The tax impact of this reclassification was $

comprehensive

income (in thousands) for the

six months ended August 3, 2024:

nine months ended November 2, 2024:

Changes in Accumulated Other

9 unchanged sentences

Net current-period other comprehensive loss

Ending Balance at August 3, 2024

Ending Balance at November 2, 2024

(a) All amounts are net-of-tax.

1 unchanged sentence

impact of Accumulated other comprehensive income reclassifications into Interest and other

income for net realized gains on available-for-sale securities.

ncome for net realized gains on available-for-sale securities.

The tax impact of this reclassification was $

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 4 – FINANCING ARRANGEMENTS:

19 unchanged sentences

reduced borrowing

availability to $

million as of August 2, 2025.

The weighted average interest rate under the credit facility

at August 2, 2025 due to

weighted average

interest rate

at November 1, 2025 due to

outstanding borrowings.

NOTE 5 – REPORTABLE SEGMENT INFORMATION:

, including Cato,

It’s Fashion, Versona

As outlined in

ASC 280-10, the Company

reportable segments:

Retail and Credit.

The Company has aggregated its

retail operating segments,

280-10, which

more operating segments may be aggregated into a single reportable segment if aggregation is consistent with

characteristics, products, production processes, clients and

methods of distribution.

(“ASC 280”), including Cato, It’s

Fashion, Versona and Credit.

The Company has

has aggregated

retail operating

segments, including

commerce, based on the aggregation criteria outlined in ASC 280-10, which states

that two or more operating

be aggregated

single reportable

aggregation is

consistent with

the objective

characteristics,

products, production processes, clients and methods of

distribution.

characteristics

financial and

5 unchanged sentences

similar manner.

Company operates

states as of August 2, 2025, principally in the southeastern United States.

states as of November 1, 2025, principally in the southeastern

United States.

The Company offers its own credit card to its

6 unchanged sentences

President and

Chief Executive Officer

Company’s chief

operating decision

structure described

Chief Executive

the Company’s

chief operating

decision maker

The structure

above reflects

13 unchanged sentences

to either segment.

operations before

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

expenses, and

operations before

budget and forecasting process,

budget and forecasting

process, as well as

monthly analyses of budget-to-actual

1 unchanged sentence

administrative

balances and, therefore, total segment assets are not presented in the

tables below.

segment assets is reported on the balance sheet as total consolidated

The accounting

those described

Accounting Policies in Note 1 of the consolidated financial statements included in the Company’s Annual

Accounting Policies in Note 1 of the consolidated financial statements included in the Company’s

performance based on segment income before income taxes.

2 unchanged sentences

Three Months Ended

August 2, 2025

November 1, 2025

Cost of goods sold

2 unchanged sentences

Interest and other income

Segment income before income taxes

Segment income (loss) before income taxes

Corporate interest and other income

Income before income taxes

Loss before income taxes

Capital expenditures

Six Months Ended

August 2, 2025

Nine Months Ended

November 1, 2025

Cost of goods sold

2 unchanged sentences

Interest and other income

Segment income before income taxes

Segment income (loss) before income taxes

Corporate interest and other income

1 unchanged sentence

Capital expenditures

(a) Selling, general, and administrative expense

include corporate and store payroll, related payroll

(a) Selling, general, and administrative expense include corporate

and store payroll, related payroll taxes and

benefits, insurance, supplies, advertising, bank and credit

2 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 5 – REPORTABLE SEGMENT INFORMATION

Three Months Ended

August 3, 2024

November 2, 2024

Cost of goods sold

4 unchanged sentences

Corporate interest and other income

Income before income taxes

Loss before income taxes

Capital expenditures

Six Months Ended

August 3, 2024

Nine Months Ended

November 2, 2024

Cost of goods sold

2 unchanged sentences

Interest and other income

Segment income before income taxes

Segment income (loss) before income taxes

Corporate interest and other income

Income before income taxes

Loss before income taxes

Capital expenditures

(a) Selling, general, and administrative expense

include corporate and store payroll, related payroll

(a) Selling, general, and administrative expense include corporate

and store payroll, related payroll taxes and

benefits, insurance, supplies, advertising, bank and credit

2 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 6 – STOCK-BASED COMPENSATION:

Company’s 2018 Incentive

Compensation Plan allows

for the granting

forms of equity-based awards,

including restricted stock

and stock options for

grant to officers, directors

key employees.

directors and key employees.

available for grant under this plan as

of August 2, 2025:

of November 1, 2025:

Options and/or restricted stock initially authorized

1 unchanged sentence

Compensation–Stock Compensation

amortized to compensation expense on a straight-line basis

over the related vesting periods.

straight-line

respectively,

average vesting period of

years for both periods.

The total compensation expense during the three and

unrecognized compensation expense

related to nonvested

restricted stock awards,

weighted-average vesting period of

years, respectively.

total compensation expense

ended November

, respectively,

respectively.

administrative expenses in the Condensed Consolidated Statements of Income.

administrative

The following summary

2 unchanged sentences

unvested restricted stock

the six months ended

the nine months ended

Weighted Average

2 unchanged sentences

Forfeited or expired

Restricted stock awards at August 2, 2025

estricted stock awards at November 1, 2025

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 6 – STOCK BASED-COMPENSATION (CONTINUED):

semi-annual offering

% discount through payroll

During the six

months ended August 2,

2025 and August 3,

share, respectively, under

the Employee Stock

Purchase Plan.

compensation expense recognized

Stock Purchase

% discount through

payroll deductions.

nine months ended

November 1, 2025

2, 2024, the Company sold

shares to employees at an average discount of $

per share, respectively,

under the Employee

Stock Purchase Plan.

The compensation expense

recognized for

respectively.

These expenses

Selling, general and administrative expenses in

the Condensed Consolidated Statements of Income.

administrative

Income (Loss).

– FAIR VALUE MEASUREMENTS:

4 unchanged sentences

measured at fair value (in thousands)

as of August 2, 2025 and

February 1, 2025:

August 2, 2025

State/Municipal Bonds

as of November 1, 2025 and February

Corporate Bonds

6 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

– FAIR VALUE MEASUREMENTS

7 unchanged sentences

Total Liabilities

maturities which

Treasury/Agencies

contractual maturity of up to

Additionally,

Additionally, at November

Company had deferred

compensation plan assets

deferred compensation

4 unchanged sentences

corporate, state

and municipal

and municipal bonds

quoted prices may

exchanges for

3 unchanged sentences

Since quoted prices in

active markets

for identical assets

available, these prices

are determined

pricing service using

observable market information such as quotes from less active markets and/or quoted prices of securities with

active markets for

identical assets are

not available, these

determined by

service using

observable market information such as quotes from less active markets and/or quoted prices

of securities with

similar characteristics, among other factors.

6 unchanged sentences

such factors as the

fair value of the underlying assets and discounted cash flow and are therefore classified within

Level 3 of the

fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3

compensation obligation,

1 unchanged sentence

insurance funds’

designed to mirror mutual funds and money

market funds that are observable and

actively traded.

measured using Level 3 inputs for the six months ended August 2, 2025 and the

year ended February 1, 2025

designed to mirror mutual funds

and money market funds that are

observable and actively traded.

measured using Level 3 inputs

for the nine months ended November

1, 2025 and the year ended

025 (in thousands):

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

– FAIR VALUE MEASUREMENTS

7 unchanged sentences

changes in net assets)

Ending Balance at August 2, 2025

Ending Balance at November 1, 2025

Measurements Using

6 unchanged sentences

changes in net assets)

Ending Balance at August 2, 2025

Ending Balance at November 1, 2025

Measurements Using

15 unchanged sentences

changes in net assets)

Ending Balance at February 1, 2025

nding Balance at February 1, 2025

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 8 – RECENT ACCOUNTING PRONOUNCEMENTS:

8 unchanged sentences

after December

business entities, with

early adoption and

retrospective application permitted.

The Company is

financial statements and related disclosures.

The required disclosures will be included in our 2025 Annual

Report on Form 10-K.

business entities.

The Company is currently

in the process of

evaluating the potential impact of

required disclosures

our 2025 Annual Report on Form 10-K.

Statement—Reporting

9 unchanged sentences

NOTE 9 – INCOME TAXES:

The Company had

an effective tax

first six months

% compared to

million in fiscal

income tax expense

million in fiscal

primarily due

reductions in

foreign income

adjustment to the federal net operating loss carryback claim as

a result of the Coronavirus Aid, Relief and

Economic Security Act (CARES Act), partially offset by an increase in state income

2025, the One Big

Beautiful Bill Act

(the “OBBBA”) was

signed into law.

The Company has

considered the impact

quarter of fiscal

2025 and concluded

not have a material impact on the Company’s effective tax rate.

effective tax rate

%) for the first

nine months of fiscal 2024.

Income tax benefit for the

versus income

Beautiful Bill

Company considered the impact of the

OBBBA in the second quarter of

The changes do not

have a material impact

on the Company’s

effective tax rate.

The Company continues to

monitor impacts

moving forward.

NOTE 10 – COMMITMENTS AND CONTINGENCIES:

13 unchanged sentences

available, management

pending litigation

material adverse

2 unchanged sentences

inherent uncertainties

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

such matters,

materially and

2 unchanged sentences

operations and

deemed probable and reasonably estimable.

eemed probable and reasonably estimable.

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 – REVENUE RECOGNITION:

20 unchanged sentences

subsidiaries.

estimated customer credit losses

for the three

and six months

ended August 2,

respectively,

ended November 2, 2024, respectively.

Sales purchased on the Company’s

proprietary credit card for the

respectively,

respectively.

million and $

million for the three and six months ended August 3, 2024, respectively.

customers (in thousands):

Balance as of

August 2, 2025

November 1, 2025

February 1, 2025

Proprietary Credit Card Receivables, net

Gift Card Liability

ift Card Liability

THE CATO CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 12 – LEASES:

Company determines

arrangement is

warehouse space

and equipment.

have remaining

, some of which include options to

extend the lease term for

leases for stores, offices,

warehouse space and equipment.

have remaining lease terms of

which include options to

extend the lease term

up to five years

1 unchanged sentence

within one year

Company considers

establish its

right-of-use assets

lease agreements do not contain any material residual value guarantees or material

restrictive covenants.

lease agreements do not contain any material residual value guarantees or

material restrictive covenants.

determining the present value of lease payments.

1 unchanged sentence

Three Months Ended

August 2, 2025

August 3, 2024

November 1, 2025

November 2, 2024

Operating lease cost

lease cost (a)

Variable lease cost (a)

(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.

Six Months Ended

August 2, 2025

August 3, 2024

Nine Months Ended

November 1, 2025

November 2, 2024

Operating lease cost

lease cost (a)

Variable lease cost (a)

(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS AND SIX MONTHS ENDED

AUGUST 2, 2025 AND AUGUST 3,

NOTE 12 – LEASES (CONTINUED:

7 unchanged sentences

Three Months Ended

August 2, 2025

August 3, 2024

November 1, 2025

November 2, 2024

Cash paid for amounts included in the measurement of lease liabilities

1 unchanged sentence

Right-of-use assets obtained in exchange for lease obligations, net of rent violations

Six Months Ended

August 2, 2025

August 3, 2024

Nine Months Ended

November 1, 2025

November 2, 2024

Cash paid for amounts included in the measurement of lease liabilities

2 unchanged sentences

Weighted-average

August 2, 2025

August 3, 2024

November 1, 2025

November 2, 2024

Weighted-average remaining lease term

Weighted-average discount rate

As of August 2,

2025, the maturities

of lease liabilities by

fiscal year for

the Company’s

operating leases

are as follows (in thousands):

leases are as follows (in thousands):

Total lease payments

1 unchanged sentence

Present value of lease liabilities

(a) Excluding the six months ended August 2, 2025

(a) Excluding the nine months ended November 1, 2025

THE CATO CORPORATION

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements