Cato Corporation
| File:Cato Corporation logo.gif | |
| Company type | Public |
|---|---|
| NYSE: CATO (Class A) Russell 2000 Index component | |
| Industry | Apparel stores |
| Founded | 1946 |
| Founder | Wayland Cato |
| Headquarters | Charlotte, North Carolina, U.S. |
Number of locations | 1,372 |
Key people | John P. Derham Cato President and CEO |
| Revenue | Template:UpUS$1.01 billion (2016) |
| Template:UpUS$95.93 million (2016) | |
| Template:UpUS$66.84 million (2016) | |
| Total assets | Template:UpUS$642.34 million (2016) |
| Total equity | Template:UpUS$412.66 million (2016) |
Number of employees | 10,500 (January 2016) |
| Website | www |
The Cato Corporation operates as a retailer specializing in women's apparel and accessories in the United States.[1] Its corporate headquarters are situated in Charlotte, North Carolina. By January 2016, the company managed a total of 1,372 outlets under various brand names including Cato, Cato Plus, It's Fashion, It's Fashion Metro, and Versona.[2]
History
![[icon]](/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (March 2020) |
The enterprise was established in 1946 when Wayland Cato departed from United Merchants to create a new venture in Charlotte alongside his sons, Wayland Henry Cato, Jr., and Edgar Thomas.[3]
During its inaugural year, five Main Street stores were launched, followed by an additional two locations in 1947, generating revenues of $404,000 that year. Expansion persisted throughout the 1950s with openings extending into shopping center venues.
The company transitioned to public ownership in 1968, reverted to private status in 1980, and returned to the public market in 1987. Facing financial challenges in the early 1990s, the firm adopted a revised discount pricing model and refreshed its merchandise to avoid bankruptcy.[3]
Cato retail outlets are frequently situated within strip malls anchored by major national discount retailers such as Walmart.[2]
Store divisions
- Cato and Cato Plus—Offering junior, misses, and plus-size apparel[2]
- It's Fashion—Focused on juniors and plus-size clothing[4]
- It's Fashion Metro—Larger-format It's Fashion stores featuring apparel for men including big and tall sizes, as well as infant and toddler wear[4]
- Versona—Specializing in "exclusive" fashion apparel and accessories[2]
References
- ↑ "About Us". Cato Fashions. Retrieved 2014-03-05.
- ↑ 2.0 2.1 2.2 2.3 "Cato Corp. 2014 Annual Report". Cato Corp. Retrieved 2016-04-08.
- ↑ 3.0 3.1 Company History, Fundinguniverse.com, retrieved 2014-03-05
- ↑ 4.0 4.1 "About It's Fashion". CatoFashions.com. Retrieved 2016-04-08.
External links
- Companies traded on the New York Stock Exchange
- Apparel retailers in the United States
- Businesses headquartered in Charlotte, North Carolina
- American enterprises founded in 1946
- Retailers founded in 1946
- Establishments in North Carolina from 1946
- Initial public offerings during the 1960s
- Initial public offerings during the 1980s
- Clothing retailers of the United States