Cato Corporation

The Cato Corporation is an American retailer of women's fashions and accessories.[3] The company is headquartered in Charlotte, North Carolina. As of January 2016, the company operated 1,372 stores under the names Cato, Cato Plus, It's Fashion, It's Fashion Metro and Versona.[4]

The Cato Corporation
TypePublic
NYSE: CATO (Class A)
Russell 2000 Index component
IndustryApparel stores
Founded1946
FounderWayland Cato
HeadquartersCharlotte, North Carolina, U.S.
Number of locations
1,372
Key people
John P. Derham Cato
President and CEO
RevenueIncreaseUS$1.01 billion (2016)[1]
IncreaseUS$95.93 million (2016)[1]
IncreaseUS$66.84 million (2016)[1]
Total assetsIncreaseUS$642.34 million (2016)[1]
Total equityIncreaseUS$412.66 million (2016)[1]
Number of employees
10,500 (January 2016)[2]
Websitewww.catofashions.com

History

In 1946, the company founder, Wayland Cato, left United Merchants to launch his own business in Charlotte with his sons, Wayland Henry Cato, Jr., and Edgar Thomas.[5]

Five main-street stores were opened in the first year, with two more being opened in 1947. Earnings for that year were $404,000. The company continued to open stores through the 1950s, including some in shopping centers.

The company went public in 1968, took itself private in 1980, then went public again in 1987. Early in the 1990s, the business avoided bankruptcy by implementing a new discount pricing strategy and updating its inventory.[5]

Cato stores are typically located in strip malls anchored by a national discounter like Walmart.[4]

Store divisions
  • Cato and Cato Plus—Junior, misses and plus sizes[4]
  • It's Fashion—Juniors, and Plus size[6]
  • It's Fashion Metro—Larger It's Fashion stores that also include clothing for men, big and tall men, infants and toddlers[6]
  • Versona -- "Exclusive" apparel and accessories[4]
Cato and Cato Plus in Griffin, Georgia

References
  1. "Cato Corporation (The) (CATO) Income Statement - Yahoo Finance". finance.yahoo.com. Retrieved Jan 29, 2021.
  2. "Overview | The Cato Corporation". catocorp.gcs-web.com. Retrieved Jan 29, 2021.
  3. "About Us". Cato Fashions. Retrieved 2014-03-05.
  4. "Cato Corp. 2014 Annual Report". Cato Corp. Retrieved 2016-04-08.
  5. Company History, Fundinguniverse.com, retrieved 2014-03-05
  6. "About It's Fashion". CatoFashions.com. Retrieved 2016-04-08.
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