Reportable Segment Information

12 Months Ended

Jan. 28, 2012

Reportable Segment Information [Abstract]

Reportable Segment Information

      The Company has determined that it has four operating segments, as defined under ASC 280-10, including Cato, It's Fashion, Versona Accessories and credit. As outlined in ASC 280-10, the Company has two reportable segments: retail and credit. The Company has aggregated its retail operating segments based on the aggregation criteria outlined in ASC 280-10, which states that two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the objective and basic principles of the Statement, if the segments have similar economic characteristics, similar product, similar production processes, similar clients and similar methods of distribution.

The Company's retail operating segments have similar economic characteristics and similar operating, financial and competitive risks. They are similar in nature of product, as they all offer women's apparel, shoes and accessories. Merchandise inventory of the Company's operating segments is sourced from the same countries and some of the same vendors, using similar production processes. Clients of the Company's operating segments have similar characteristics. Merchandise for the Company's operating segments is distributed to retail stores in a similar manner through the Company's single distribution center and is subsequently distributed to clients in a similar manner, through its retail stores.

The Company operates its women's fashion specialty retail stores in 31 states as of January 28, 2012, principally in the southeastern United States. The Company offers its own creditcard to its customers and all credit authorizations, payment processing, and collection efforts are performed by a separate subsidiary of the Company.

      The following schedule summarizes certain segment information as of and for the year then ended (in thousands):

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Fiscal 2011	Retail		Credit		Total
Revenues	$	923,742	$	7,716	$	931,458
Depreciation		21,785		40		21,825
Interest and other income		(3,817)		-		(3,817)
Income before taxes		97,037		3,234		100,271
Total assets		471,397		79,692		551,089
Capital expenditures		35,804		86		35,890
Fiscal 2010 (As Restated - Note 2)
Revenues	$	916,150	$	8,535	$	924,685
Depreciation		21,801		21		21,822
Interest and other income		(3,971)		-		(3,971)
Income before taxes		89,703		3,069		92,772
Total assets		457,182		75,577		532,759
Capital expenditures		19,559		-		19,559
Fiscal 2009 (As Restated - Note 2)
Revenues	$	874,561	$	9,440	$	884,001
Depreciation		21,799		30		21,829
Interest and other income		(4,313)		-		(4,313)
Income before taxes		64,070		2,850		66,920
Total assets		419,915		72,148		492,063
Capital expenditures		9,957		3		9,960

The accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1. The Company evaluates performance based on profit or loss from operations beforeincome taxes. The Company does not allocate certain corporate expenses to the credit segment.

      The following schedule summarizes the credit segment and related direct expenses which are reflected in selling, general and administrative expenses (in thousands):

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	January 28,		January 29,		January 30,
	2012		2011		2010
Bad debt expense	$	1,723	$	2,827	$	3,643
Payroll		954		954		969
Postage		757		811		901
Other expenses		1,008		853		1,047
Total expenses	$	4,442	$	5,445	$	6,560