Cato Corp.

The Cato Corp. (Charlotte, N.C.) has reported a preliminary increase in net income of 54 percent for the fourth quarter ended Jan. 29, 2005.

For the full fiscal year, preliminary net income increased 12 percent.

Sales for the fourth quarter increased 8 percent and comparable store sales increased 3 percent. Sales for the year increased 6 percent and comparable store sales were flat.

“In 2004 we exceeded our goal of 10 percent annual earnings growth, opened 80 new stores, improved the structure of our merchandising organization, and continued investing in technology for greater efficiency throughout our business,” said chairman, president and ceo John Cato.

During 2004, the company continued its geographic expansion and opened stores in one new state while adding stores in states entered in recent years; it opened 80 stores, relocated 29 stores and closed five stores.