Citi Trends Lifts Outlook As CEO Highlights Robust Back-To-School Sales Momentum

Citi Trends, Inc. (NASDAQ:CTRN) reported second-quarter sales of $190.75 million (+8% year over year) on Tuesday, beating the analyst consensus estimate of $188.397 million.

Comparable store sales in the quarter under review increased by 9.2% compared to the same quarter in the year-ago period, driven by traffic, basket, and conversion increases.

“Our second quarter results underscore our recent success executing our key initiatives, which drove comparable store sales up 9.2%, our fourth consecutive quarter and 12 straight months of consistent comparable sales gains,” said Ken Seipel, Chief Executive Officer. “I am also pleased year-to-date sales momentum has continued into the important August back ...