Citi Trends Holiday Period Comparable Store Sales Down 0.3%; Reaffirms FY23 Sales Outlook

(RTTNews) - Specialty value retailer Citi Trends, Inc. (CTRN) announced Monday that total sales for the quarter-to-date holiday period edged down to $179.5 million from $181.9 million in the same period last year. Comparable store sales for the period were down 0.3%.

For fiscal 2023, the company continues to project total sales to be down mid-single digits.

The Company's implied fourth quarter total sales are expected to be approximately flat to up low-single digits, with comp store sales now expected to be in the range of down low-single digits to flat to last year.

On average, analysts polled by Thomson Reuters expect the company to report sales growth of 1.2 percent to $212.05 million for the quarter and a sales decline of 6.3 percent to $744.7 million for the year. Analysts' estimates typically exclude special items.