A women’s apparel company that caters to price-conscious consumers announced the closure of 120 retail stores by the end of the fiscal year.

The Cato Corporation, parent company of Cato Fashions, operates more than 1,000 women’s apparel and accessories stores across 31 states.

The slated closures account for more than 10% of its stores, Fast Company reported.

Cato, which was founded in 1946, focuses on budget-wary consumers, much like TJ Maxx or Ross Dress for Less.

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The Cato Corporation also operates two other retailers — Versona, an upscale apparel, jewelry, and accessories…

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