Citi Trends Turns To Profit In Q2 - Quick Facts

(RTTNews) - Citi Trends, Inc. (CTRN) reported second-quarter net income of $0.2 million or $0.01 per share, compared with a net loss of $2.6 million or $0.17 per share, a year earlier. On average, three analysts polled by Thomson Reuters expected the company to report loss per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.

Quarterly total sales rose by 6.1 percent to $153.88 million from $144.99 million last year, while three analysts expected revenue of $153.70 million. Comparable-store sales increased 3.9 percent year-over-year.

The company also announced that its Board of Directors approved the initiation of a cash dividend payment at an annual rate of $0.24 per share and a share repurchase program of up to $15 million.