Citi Trends Q4, FY14 Sales Outpace Expectations

Press release from the issuing company

Thursday, February 12th, 2015

Citi Trends, Inc. today reported unaudited sales results for the fourth quarter and fiscal year ended January 31, 2015.

Total sales in the 13-week period ended January 31, 2015, increased 15.2% to $181.1 million compared with $157.2 million in the 13-week period ended February 1, 2014. Comparable store sales increased 13.9% in the fourth quarter. By month, comparable store sales were up 7.7% in November, up 13.5% in December and up 26.6% in January. The sales comparison for the month of January benefited from a number of winter storm-related closings last year and an earlier start to tax refund season the last two days of the month this year. Comparable store sales were up approximately 15% in January until the last two days, which were up nearly 75% (approximately $3 million). For the quarter, comparable store sales were up approximately 12% prior to the last two days of January.

For the year, total sales increased 7.8% to $670.8 million compared with $622.2 million in fiscal 2013. Comparable store sales increased 7.5% for the full year.

Ed Anderson, Chairman and Chief Executive Officer, commented, “We are very pleased with the fourth quarter sales, as the strong momentum from the third quarter continued throughout the entire fourth quarter. Clearly, our merchandise assortments were more on point this year. In particular, we did a better job with all of our cold-weather merchandise. All five merchandise divisions delivered meaningful sales growth, and, geographically, we delivered strong sales across all weather zones and store regions.

“We are optimistic about the first quarter of 2015. We have strong momentum and we believe our inventories are well positioned to drive sales increases.”

Investor Conference Call and Webcast

The Company will report complete financial results for its fourth quarter and fiscal 2014 before the market opens on March 13, 2015. 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) 231-2937. A replay of the conference call will be available until March 20, 2015, by dialing (402) 977-9140 and entering the passcode, 21761232.

The live broadcast of Citi Trends’ conference call will be available online at the Company’s website, www.cititrends.com, as well as www.cititrends.com/http/ircititrendscom, on March 13, 2015 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.