* Cato Corp. (Charlotte, N.C.) said it plans to close 70 additional underperforming stores in the third and fourth quarters of its current fiscal year. That will bring its total planned stores closures to 120 stores in FY 2026.
The chain said those closings stem from an annual review it makes at about a third of its just over 1000-store stable of brands. “In years past, marginal stores were renewed for an additional year to give the store more time to improve its sales trend and profitability,” John Cato, Chairman, President and CEO said in a news release. “In light of the current economic environment, especially with the negative pressure on our customers’ discretionary income, we do not expect these marginal stores to improve appreciably. As a result, we are closing more stores than expected this year. We believe that closing these additional stores will have a positive impact on our operating results in fiscal 2027 and beyond.”
Founded in 1946, the retailer operates stores under its flagship name, along with Versona, it’s Fashion and It’s Fashion Metro…