After COVID-induced shutdowns hammered brick and mortar retailer Cato Corporation in 2020, results have come roaring back. Even after a 75% appreciation so far this year, the business stills looks extremely cheap after stripping out excess cash. The business owns potentially valuable hidden real estate assets to boot, providing a further margin of safety. Is the situation too good to be true?
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Cato Corporation – Slam Dunk or Value Trap?
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After COVID-induced shutdowns hammered brick and mortar retailer Cato Corporation in 2020, results have come roaring back. Even after a 75% appreciation so far this year, the business stills looks extremely cheap after stripping out excess cash. The business owns potentially valuable hidden real estate assets to boot, providing a further margin of safety. Is the situation too good to be true?