USA: Cato To Open 90 New Stores, Sees Soft Q2 Sales
Women's discount clothing chain Cato Corp on Friday revealed plans to open 90 new stores this year and between 90 and 120 new shops annually for the next few years. The North Carolina-based operator of 1,035 stores added it expects short term sales to be soft but is targeting an annual earnings and dividend growth rate of 10 per cent once the economy picks up.
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