Citi Trends, Inc. Reports Unaudited Sales Results for the First Two Months of the Fourth Quarter of Fiscal 2017; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2017
January 08, 2018 at 04:05 pm EST
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Citi Trends, Inc. reported unaudited sales for the first two months of the fourth quarter of fiscal 2017. Total sales in the first two months of the fourth quarter of 2017 increased 7.3% to $165.1 million compared with $153.9 million in the same period of 2016. Comparable store sales increased 5.5% in November and 4.5% in December.
For the fourth quarter of fiscal 2017, the company expects diluted earnings per share to be in the range of $0.40 to $0.45 compared with $0.38 in the fourth quarter of fiscal 2016. Such guidance for the quarter assumes sales of approximately $211 million, cost of sales (exclusive of depreciation) of approximately $131 million and selling, general, administrative and depreciation expenses of approximately $72 million.
Citi Trends, Inc. is a specialty retailer of apparel, accessories and home trends primarily for African American and multicultural families in the United States. The Company operates over 602 stores located in 33 states. It offers a range of merchandise, including a range of apparel for juniors, missy and women (plus size), including sportswear, outerwear, sleepwear, lingerie and scrubs; selection of apparel for men and big men, including sportswear and outerwear; an assortment of basics, fashion and trends for boys up to size 20 and girls up to size 16 and also, sizes for newborns, infants and toddlers, as well as kids uniforms and accessories; fashionable handbags, hats, belts, sunglasses, jewelry and watches for men and women, underwear and socks for the entire family, as well as beauty and fragrance offerings for women and men; home goods for the bedroom, bathroom, kitchen and decorative accessories, and casual and dress footwear in sizes for men, ladies and kids.
Citi Trends, Inc. Reports Unaudited Sales Results for the First Two Months of the Fourth Quarter of Fiscal 2017; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2017