Uncovering CATO's value with Mike Melby

from Yet Another Value Podcast · host Andrew Walker

Mike Melby, Founder and Portfolio Manager at Gate City Capital, makes a repeat appearance to discuss his investment in CATO. CATO is a small retailer with a rock solid balance sheet; Mike thinks their low multiple combined with a focus on returning cash flow to shareholders and some hidden tax and real estate assets creates an attractive investment opportunity.Mike's first appearance on AXR: https://youtu.be/mSEgw2529Q4Gate City Capital website: https://www.gatecitycap.com/Chapters0:00 Intro1:00 Cato Overview5:45 Cato's target demographics8:45 Cato's online strategy (or lack thereof)13:15 What's driven Cato's store base recently15:30 Discussing CATO's management22:05 Valuing CATO's land27:35 Quantifying CATO's Sum of the Parts (SOTP)30:15 What's the endgame for CATO?37:25 Mike's closing thoughts on CATO

Episode metadata supplied by the publisher feed · Published Jun 30, 2021

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Uncovering CATO's value with Mike Melby

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