Citi Trends Q4 Profit Declines Below Street View But Revenue Rises

(RTTNews) - Citi Trends, Inc. (CTRN), a value retailer of fashion apparel, accessories, and home goods, Tuesday reported net profit of $3.55 million or $0.42 per share for the fourth quarter, lower than 6.64 million or $0.81 per share in the previous year.

Excluding one-time items, earnings of $4.42 million or $0.53 per share missed the average estimate of analysts polled by Thomson-Reuters of $0.79 per share. Analysts' estimates typically exclude special items.

Sales for the quarter increased 2.7 percent to $215.18 million from $209.46 million in the previous year. The consensus estimate was for $216.32 million.

The company said its comparable stores sales decreased 6.8% year on year.

Looking ahead, Citi Trends expects full- year comparable store sales to grow in the range of mid-single digits.