Charlotte, N.C. The Cato Corp. will add 40 new Cato stores and 30 new It's Fashion units this year, company chairman, president, and CEO John Cato said during the company’s annual shareholders' meeting.
"Our plans for this year are to accelerate It's Fashion store openings primarily through the development of our It's Fashion Metro concept," Cato said.
The Metro concept is an expanded version of the It's Fashion format.
In reviewing the company's outlook for 2008, Cato noted initiatives in store development, store operations and support functions to help deliver profitable growth.
"Given the ongoing economic situation, the company has made necessary changes to its infrastructure to limit overhead growth to critical areas and will continue to tightly manage expenses," he said. “It is important that we stay focused on executing our business plans to deliver profitable growth."