EXHIBIT 99.1

The CATO Corporation

NEWS RELEASE

FOR IMMEDIATE RELEASE

For Further Information Contact:

 John Howe

 EVP, Chief Financial Officer

 704-551-7315

THE CATO CORPORATION ANNOUNCES CFO TRANSITION PLANS

John Howe to Retire; Chuck Knight to Become CFO

Charlotte, NC (January 4, 2022) – The Cato Corporation (NYSE: CATO) announced today that John R. Howe,

its Executive Vice President and Chief Financial Officer and the Company’s principal financial officer, plans to

retire from these roles effective January 17, 2022 following 35 years of service with the Company. Mr. Howe

will remain employed with the Company through May 1, 2022 to assist with the transition. 

Chuck Knight will succeed Mr. Howe as Executive Vice President and Chief Financial Officer effective January

17, 2022. Mr. Knight joins the Company following previous service with The Vitamin Shoppe, first as Senior

Vice President, Chief Accounting Officer, and then as Executive Vice President, Chief Financial Officer. Prior

to that, Mr. Knight served as Senior Vice President, Corporate Controller for Toys “R” Us.

“I’d like to sincerely thank John Howe for his many contributions to Cato over the last 35 years, including the

last 13 as CFO and in numerous positions with our finance team during his career with the Company. His

steady hand and effective leadership have enabled the Company to soundly finance its operations and growth

over the years,” said John P.D. Cato, Chairman, President and Chief Executive Officer. “He has been a true

partner to me, and we wish John well in his retirement,” Mr. Cato added.

“We are excited to welcome Chuck Knight to the Cato executive leadership team,” said Mr. Cato. “We believe

the extensive experience that Chuck brings to Cato will make him a valuable asset to the organization.” 

The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating

three concepts, "Cato," "Versona" and "It's Fashion." The Company's Cato stores offer exclusive merchandise

with fashion and quality comparable to mall specialty stores at low prices every day. The Company also offers

exclusive merchandise found in its Cato stores at

www.catofashions.com

. Versona is a unique fashion

destination offering apparel and accessories including jewelry, handbags and shoes at exceptional prices

every day. Select Versona merchandise can also be found at

www.shopversona.com

. It's Fashion offers

fashion with a focus on the latest trendy styles for the entire family at low prices every day.

Statements in this press release that express a belief, expectation or intention, as well as those that are not a

historical fact, are considered "forward-looking" within the meaning of The Private Securities Litigation Reform

Act of 1995. Such forward-looking statements are based on current expectations that are subject to known

and unknown risks, uncertainties and other factors that could cause actual results to differ materially from

those contemplated by the forward-looking statements. Such factors include, but are not limited to, any actual

or perceived deterioration in the conditions that drive consumer confidence and spending, including, but not

limited to, prevailing social, economic, political and public health conditions and uncertainties, levels of

unemployment, fuel, energy and food costs, wage rates, tax rates, interest rates, home values, consumer net

worth and the availability of credit; changes in laws, regulations or government policies affecting our business

including but not limited to tariffs; uncertainties regarding the impact of any governmental actions regarding, or

responses to, to the foregoing conditions; competitive factors and pricing pressures; our ability to predict and

respond to rapidly changing fashion trends and consumer demands; our ability to successfully implement our

new store development strategy to increase new store openings and the ability of any such new stores to grow

and perform as expected; adverse weather, public health threats (including the global coronavirus (COVID-19)

pandemic) or similar conditions that may affect our sales or operations; inventory risks due to shifts in market

demand, including the ability to liquidate excess inventory at anticipated margins; and other factors discussed

under "Risk Factors" in Part I, Item 1A of the Company's most recently filed annual report on Form 10-K and in

other reports the Company files with or furnishes to the SEC from time to time. The Company does not

undertake to publicly update or revise the forward-looking statements even if experience or future changes

make it clear that the projected results expressed or implied therein will not be realized. The Company is not

responsible for any changes made to this press release by wire or Internet services.

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