business8 days ago
Cato Fashions Accelerates Store Closures to 120 Amid Economic Pressure
Cato Fashions will close 120 stores by the end of 2026, a significant increase from its initial projection of 40 to 50 closures. The Charlotte-based company cites weak consumer discretionary spending as the primary driver, with CEO John Cato stating that marginal locations are unlikely to improve. The move reduces the chain’s footprint to 850 locations and is expected to cost between $1 million and $1.3 million in exit expenses.