Citi Trends, Inc. today reported unaudited sales for the fourth quarter and fiscal year ended January 28, 2017.

Total sales in the 13-week period ended January 28, 2017, increased 5.4% to $185.5 million compared with $176.1 million in the 13-week period ended January 30, 2016. Comparable store sales in this year's fourth quarter increased 3.4% from the fourth quarter of fiscal 2015. By month, comparable store sales were up 5% in November, up 2% in December and up 6% in January.

For the year, total sales increased 1.7% to $695.2 million compared with $683.8 million in fiscal 2015. Comparable store sales decreased 0.4% for the full year.

In looking forward, the Company expects that tax refund driven sales are likely to shift largely from February to March of 2017 due to later disbursement by the Internal Revenue Service than in 2016. Historically, a shift in sales related to later tax refunds has had a negative impact on first quarter sales.

In addition, the Company announced that its Board of Directors has declared a quarterly dividend of $0.06 per common share, payable on March 14, 2017, to shareholders of record as of the close of business on February 28, 2017.

Investor Conference Call and Webcast

The Company will report complete financial results for its fourth quarter and fiscal 2016 before the market opens on March 10, 2017. Citi Trends will host a conference call on the same day at 9:00 a.m. ET. The number to call for the live interactive teleconference is (212) 231-2934. A replay of the conference call will be available until March 17, 2017, by dialing (402) 977-9140 and entering the passcode, 21843404.

The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com, under the Investor Relations section, on March 10, 2017, beginning at 9:00 a.m. ET. The online replay will follow shortly after the call and will be available for replay for one year.

During the conference call, the Company may discuss and answer questions concerning business, financial developments and trends after quarter-end. The Company's responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.