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This retailer thinks 2016 could be a difficult year
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.
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Iconic New York off-pricer signs on for American Dream
A new tenant has been added to the lineup at American Dream, the mega retail and entertainment destination under construction in East Rutherford, New Jersey: Century 21.
The off-pricer will open a nearly 60,000 sq. ft. location at the long-delayed center, which when completed will boost such attractions as an indoor water park, a Lego Discovery Center, a 16-story indoor ski and snow park, a miniature golf course — and more than 450 retail stores.

