The Cato Corporation announced plans to close about 70 additional underperforming stores in the third and fourth quarters of 2026, bringing the total store closures for the year to approximately 120. This decision comes as a response to weak sales trends and economic pressures affecting customers' discretionary spending. The company expects these closures to positively impact operating results starting in fiscal 2027, despite incurring $1.0 to $1.3 million in exit costs. All affected stores are at the end of their lease terms, so no rent will be paid beyond 2026.
The Cato Corporation's store closure plans provide context for consumer cyclical stocks on Pluang. For readers following this sector, here is Pluang's market snapshot as of Sep 18, 2026 17:42 WIB: Out of 104 priced Consumer Cyclical-sector US stocks, 65 rose and 34 fell today. Tripadvisor Inc (TRIP) gained 1.24% to USD 8.98 with 100% buy orders and a typical hold time of 56 days, contrasting with Wayfair Inc (W) which dropped 1.20% to USD 101.27 despite 99% buy orders and a much shorter hold time of 7 days. Quantumscape Corp (QS) also rose 1.16% to USD 5.23 with 100% buy orders and a 36-day hold time.
Xenon Pharmaceuticals halted new patient enrollment in its psychiatry clinical trials for the drug azetukalner after reports of neuropsychiatric side effects. This pause led to a sharp 27.6% drop in its stock price, marking its worst day since 2017. ...
Innate Pharma reported an EPS of -$0.24, beating analyst estimates of -$0.29, and revenue of $6.5 million, slightly above expectations. The company secured a strategic partnership with Sobi for its drug lacutamab, receiving a $75 million upfront paym...
Paychex, a provider of human capital management solutions, will release its Q1 fiscal 2027 earnings on September 23, 2026. Analysts expect earnings per share (EPS) of $1.32, up from $1.22 last year, and revenue of about $1.63 billion, higher than las...
Barclays lowered its price target for Lennar Corporation to $70 from a higher level, citing a 52% drop in Q3 net earnings to $284 million and an 8.6% revenue decline to $8.05 billion. The homebuilder faces headwinds from rising mortgage rates and wea...
Guggenheim has raised its price target for Restaurant Brands International (QSR) to $86 from $85 and reiterated a Buy rating, reflecting confidence in the company's strategic growth. Restaurant Brands International is enhancing shareholder value thro...
