Citi Trends Holiday Season Sales Fall In Line With Expectations

(RTTNews) - Citi Trends, Inc. (CTRN), a retailer of apparel, accessories, and home trends, said on Monday that it posted a decline in sales for the nine-week holiday period to December 31, 2022. However, the company noted that the results were in line with its expectations.

For the nine-week period, the retailer reported sales of $171.9 million, compared to $204.8 million in the same period a year ago. The comparable store sales also moved down by 17.5 percent from last year period.

For the fourth quarter, the firm expects earnings per share of $0.78 to $0.86, while four analysts, on average, polled by Thomson-Reuters project earnings per share of $0.76, for the quarter.

For the second-half, the company expects earnings per share of $3.80 to $3.88, or $1.02 to $1.10 on adjusted basis.

Citi Trends still expects its sales to increase in low-single digits in the second half compared with first half. For the first-half, the firm had recorded sales of $393.2 million.