Citi Trends Q4 Profit Tops View; Ed Anderson Retires As CEO - Quick Facts

(RTTNews) - Citi Trends, Inc. (CTRN) reported fourth-quarter net income of $4.7 million or $0.31 per share, compared to $1.5 million or $0.10 per share, a year earlier. On average, four analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest fourth quarter rose by 15.2 percent to $181.14 million from $157.19 million in the comparable quarter last year. Comparable-store sales increased by 13.9 percent year-over-year. Analysts' revenue estimate was $174.60 million.

Separately, Citi Trends announced that Ed Anderson is retiring as chief executive officer or CEO, effective March 21, 2015. Jason Mazzola, currently Executive Vice President and Chief Merchandising Officer, will become President and Chief Executive Officer effective March 22, 2015 and has been appointed to the Board of Directors, effective immediately.

Bruce Smith, the company's Executive Vice President and Chief Financial Officer, will also become its Chief Operating Officer, Citi Trends added.