Citi Trends Announces Higher First Quarter 2017 Sales
Thursday, May 4th, 2017
Citi Trends, Inc. reported unaudited sales for the first quarter ended April 29, 2017.
Total sales in the 13-week period ended April 29, 2017 increased 3.2% to $200.0 million compared with $193.7 million in the 13-week period ended April 30, 2016. Comparable store sales in this year's first quarter increased 1.0% from the first quarter of fiscal 2016.
Bruce Smith, Acting Chief Executive Officer, commented, "We are pleased to report that our improved merchandising strategies are driving better performance, as demonstrated by the increase in our first quarter comparable store sales. After a very slow start to the quarter due to the later disbursement of tax refunds by the Internal Revenue Service, we were able to more than make up February's 21% comparable store sales decline with increases of 13% in March and 18% in April."