Finance & Capital Management

Cato Corp., just delivered its highest earnings in company history and sales topped $1 billion, but chairman, president and CEO John Cato said the road ahead could be rocky.

Cato, operator of 1,372 stores in 32 states, said its fourth quarter sales increased 4% to $247.3 million and same-store sales increased 1%. Full year sales increased 2.4% to slightly exceed $1 billion, but the addition of 31 new stores was the primary driver of full year growth as same-store sales were flat.

Ross Dress for Less on March 5 opened two new stores in the Chicago area.

The retailer opened a 27,000-sq.-ft. location in Berwyn, in Cermak Plaza, nine miles west of downtown Chicago at the southeast corner of West Cermak Road and Harlem Avenue.

It also opened an Archer Heights location, a 25,000-sq.-ft. store in the Pulaski Promenade, nine miles southwest of downtown Chicago at the northwest corner of 42nd Place and Pulaski Road.

Gap Inc. CEO Art Peck was in New York on March 16 to receive the 2016 Catalyst Award from an organization focused on accelerating progress for women through workplace inclusion.

Finish Line has hired a high power technology executive to make sure it avoids recent technology implementation challenges in the future while keeping pace with athletic footwear consumers’ desire for an omnichannel experience.

Finish Line has hired a high power technology executive to make sure it avoids recent technology implementation challenges in the future while keeping pace with athletic footwear consumers’ desire for an omnichannel experience.

Albertsons on Monday submitted a binding bid letter and form of Asset Purchase Agreement to Haggen for the purchase of 29 of Haggen's core stores, confirming reports that Alebertsons would seek to acquire the remaining Haggen core. This is a step in the process to obtain bankruptcy court approval, following Haggen's Chapter 11 filing on September 8, 2015, which is required for consummation of the purchase.

Stein Mart has named a new CEO just a week after a tough fourth quarter in which the retailer posted a decline in profit.

The Florida-based company says it has appointed Dawn Robertson as CEO and a member of the board of directors. Robertson will also have the responsibilities of chief merchant for the foreseeable future, the company said. She succeeds Jay Stein, the company's founder and long standing CEO, who had advised the board of his desire to step back from that position but remain Stein Mart's chairman of the board.

The Children's Place posted strong same-store sales for the fourth quarter as the children’s clothes retailer also released an upbeat forecast for the year.

For the fourth quarter ended Jan. 30, net sales increased 4% to $498.5 million. Same store sales increased 6.7%. Net income was $17.5 million, or 87 cents per diluted share, in the fourth quarter of 2015, compared to net income of $17 million, or 79 cents per diluted share, the previous year.