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Beloved 80-year-old clothing chain closes 14 more stores

Cato Corporation has closed 14 stores in the first six months of 2026, with plans to close 50 in total by year end. ©Image Credit: CATO Fashions

It isn't just a blip; it's looking more like a massive exodus as retailers close up shop in suburban strip malls and indoor malls. The Cato Corporation is the latest in a long line of retailers to announce store closures, with 14 locations affected and potentially more to come.

Downsizing isn't so quiet anymore

This trend started with some retailers quietly downsizing, but it has grown much louder and more obvious. Cato Corporation was founded 80 years ago and is known for offering value-priced women's fashion pieces. Now the company has announced the closure of 14 of its Cato, It's Fashion and Versona stores.

Cato Corporation could close up to 50 stores

Just how far will the cuts go? Cato Corporation closed 14 stores during the first six months of 2026. On the flip side, it opened only two stores. According to the company's 10-Q filing, as of Aug. 1, 2026, the chain has 1,057 stores in operation. Last year at the same time, it had 1,101 stores in operation.

That equates to 44 closures in the past year. The company has also confirmed it will close 50 stores in total in 2026 and has opened just 10 locations.

Why malls are becoming emptier

Retailers have been closing up shop in suburban strip malls and indoor malls for the last year or so, as they adapt to changing consumer habits. Another trend is the shutdown that happens when they are located near a big-box discount store like Walmart.

What's driving the trend exactly? Many retailers are pointing to consumers tightening up their wallets and just not spending as much money. It used to be that shoppers would wander through malls, meandering from store to store, picking up items that caught their attention. Times have changed, and that's no longer the norm.

Watch for the trend to continue

If you've got some favorite stores or malls that you enjoy shopping at, now may be the time to show them some love. This trend in closures doesn't seem to be showing any signs of slowing, and the next closure could be your favorite.

Source: TheStreet

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