CHARLOTTE, N.C., May 1, 2020 /PRNewswire/ -- The Cato
Corporation (NYSE: CATO) today announced it reopened a
majority of its stores, consistent with local health and safety
guidelines and regulations. Company management will assess
the guidance and local government mandates on a location by
location basis as it executes its plan to reopen stores.
"We are pleased to announce we are reopening our stores,
welcoming back our valued associates and serving our loyal
customers who have been supportive during these challenging times,"
said John Cato, Chairman, President
and Chief Executive Officer. "Stores are reopening on a
rolling basis, in compliance with CDC and governmental
guidelines. As always, we remain committed to protecting our
customers, associates and communities that we serve and observing
social distancing at all locations."
To maintain the safety of its associates and customers, Cato is
providing masks and disposable gloves for their associates to wear,
as well as having hand sanitizer available to associates and
customers, coupled with enhanced cleaning procedures in all
locations.
Statements in this press release not historical in
nature including, without limitation, statements
regarding the Company's expected or estimated operational and
financial results and potential impact of the coronavirus 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 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,
wage rates, tax rates, interest rates, home values, consumer net
worth and the availability of credit; changes in laws or
regulations affecting our business including tariffs; uncertainties
regarding the impact of any governmental 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 open new stores as
planned and our ability of any such new stores to grow and perform
as expected; adverse weather, public health threats (including the
global coronavirus (COVID-19) outbreak) or similar conditions that
may affect our sales or operations; inventory risks due to shifts
in market demand, including the ability to liquidate excess
inventory at anticipated margins; 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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SOURCE The Cato Corporation