Citi Trends Q3 Loss Narrows - Quick Facts

(RTTNews) - Citi Trends Inc. (CTRN) reported that its third-quarter net loss narrowed to $1.67 million or $0.11 per share, from a loss of $3.70 million or $0.25 per share, prior year. The company noted that its current year's third quarter benefited by a pretax gain of $1.5 million on the sale of the company's former distribution center. The gain had a positive impact on loss per share of $0.06 in the quarter.

On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.18 for the quarter. Analysts' estimates typically exclude special items.

Net sales declined year-over-year to $145.36 million, from $148.98 million. Comparable store sales increased 0.6% in the third quarter. Analysts expected revenue of $150.88 million for the quarter.