Profile: Cato Corp (CATO.N)
29 Jan 2015
The Cato Corporation (Cato) is a women’s fashion specialty retailer. As of February 01, 2014, the Company operated 1,320 fashion specialty stores in 32 states, principally in the southeastern United States, under the names Cato, Cato Fashions, Cato Plus, It’s Fashion, It’s Fashion Metro and Versona Accessories. It operates in two segments: stores and Credit. The Company’s stores offer an assortment of apparel and accessory items in primarily junior/missy, plus sizes, girls sizes ( Seven to 16), men’s and kids sizes (newborn to seven). Its merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. Its merchandise is sold under its private label and is produced by various vendors in accordance with the Company’s specifications.
The Cato concept’s stores and e-commerce Website feature an assortment of apparel and accessories, including dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry and handbags. A major portion of the Cato concept’s merchandise is sold under its private label and is produced by various vendors in accordance with the concept’s specifications. The It’s Fashion and It’s Fashion Metro concepts offer fashion with a focus on the trendy styles for the entire family. The Versona Accessories concept offers fashion jewelry, accessories and apparel items. The Company’s stores range in size from 2,000 to 19,000 square feet. The Company offers its own credit card and layaway plan. Credit and layaway sales under the Company’s plan represented 9% of retail sales in fiscal year ended February 1, 2014.
The Company offers its own credit card to its customers and all credit authorizations, payment processing, and collection efforts are performed by a separate subsidiary of the Company. The Company’s stores are located in the southeastern United States in a variety of markets ranging from small towns to metropolitan areas with trade area populations of 20,000 or more. Stores average approximately 4,500 square feet in size. All of the Company’s stores are leased. Approximately 97% are located in strip shopping centers and 3% in enclosed shopping malls.
8100 DENMARK ROAD
CHARLOTTE NC 28273-5975