India, Sept. 18 -- On Friday, Cato Corp. (CATO), an apparel retail company, announced that they plan to close approximately 70 additional underperforming stores in the third and fourth quarters bringing total planned store closures to approximately 120 stores in fiscal 2026.
The Company expects to spend $1.0 million to $1.3 million to close these additional stores by the end of 2026. The costs will mainly cover removing signs and fixtures and returning store systems to the corporate office. Since the leases are ending, the Company will not have to pay rent for these stores after 2026.
On the NYSE, the shares were trading 5.88 percent up at $2.5200.
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