Citi Trends Q2 bests the Street, reaffirms FY outlook
Citi Trends, Inc. (Nasdaq: CTRN) posted strong second-quarter results after Wednesday’s close that trumped the consensus on Wall Street. The retailer saw sales increase 19.5% and comparable stores sales increase 6.5% in the quarter, as stimulus checks and an improvement in gross margin on account of lower inventory levels and markdowns served to buoy results.
Shares gained 5%, or $0.95, to $19.40 in pre-market trading. For more detailed price information and stories on Citi Trends, click CTRN.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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