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

Company type	Public
Traded as	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	US$1.01 billion (2016)[1]
Operating income	US$95.93 million (2016)[1]
Net income	US$66.84 million (2016)[1]
Total assets	US$642.34 million (2016)[1]
Total equity	US$412.66 million (2016)[1]
Number of employees	10,500 (January 2016)[2]
Website	www.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