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The Cato Corporation announced plans to close approximately 70 additional underperforming stores in the third and…
CATOCato Corp
The Cato Corporation announced plans to close approximately 70 additional underperforming stores in the third and fourth quarters of fiscal 2026, bringing total planned closures for the year to roughly 120 locations. The company expects to incur between $1.0 million and $1.3 million in exit costs related to signage disposal and fixture returns through the end of 2026. CEO John Cato cited negative pressure on customer discretionary income as the primary driver, noting that marginal stores are unlikely to improve appreciably compared to past practices of extending leases for turnaround opportunities. The company believes these closures will positively impact operating results in fiscal 2027 and beyond. The Cato Corporation operates a chain of women's apparel retail stores.