Citi Trends' net income zooms 181% in 39 weeks to Oct 31


Citi Trends, a US based value-priced retailer for fashion apparel and accessories, posted net income for the first 39 weeks of fiscal 2015 of $ 12.1 million, showing a surge of 181 per cent compared to $ 4.3 million in the same period last fiscal, according to a press statement issued by the retailer.

The company reported a rise of 3.7 per cent in its total sales to $ 507.7 million in the first three quarters of fiscal 2015 ending October 31, as compared to $ 489.7 million in the corresponding quarters of fiscal 2014. Earnings per diluted share for this period was $ 0.79 as compared to $ 0.29 per diluted share in the same period last fiscal.

For the first nine months of fiscal 2015, comparable store sales rose by 1.7 per cent. Selling, general and administrative expenses for this period were $ 167.1 million as compared to $ 163.5 million in the corresponding period last fiscal, which is a rise of 2.2 per cent.

The press releases also mentioned that total sales reported by the retailer in the third quarter ended October 31, 2015 increased 1.4 per cent to $ 158.9 million compared with $ 156.7 million in the corresponding quarter last fiscal. Comparable store sales decreased 0.5 per cent in the quarter. (MCJ)

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