Citi Trends, Inc. today reported results for the fourth quarter and fiscal year ended January 30, 2016.

Financial Highlights - 13-week fourth quarter ended January 30, 2016

Total sales in the 13 weeks ended January 30, 2016 decreased 2.8% to $176.1 million compared with $181.1 million in the 13 weeks endedJanuary 31, 2015. Comparable store sales decreased 5.0% in the fourth quarter.

Net income was $3.5 million, or $0.24 per diluted share, in the fourth quarter of 2015 compared with $4.7 million, or $0.31 per diluted share, in last year's fourth quarter. While net income declined in the fourth quarter of 2015, pretax income increased 15% to $6.0 million from $5.2 million in the fourth quarter of 2014. The significant difference between the improvement in pretax income and the decline in net income was attributable to an unusually low effective income tax rate in 2014's fourth quarter due to a benefit from income tax credits.

Financial Highlights - 52-week fiscal year ended January 30, 2016

Total sales in the 52 weeks ended January 30, 2016 increased 1.9% to $683.8 million compared with $670.8 million in the 52 weeks endedJanuary 31, 2015. Comparable store sales decreased 0.1% for the full year.

Net income was $15.5 million, or $1.03 per diluted share, in fiscal 2015 compared with $9.0 million, or $0.60 per diluted share, in fiscal 2014.

The Company opened 13 stores, relocated or expanded 13 others, and closed three stores in fiscal 2015.

As previously announced, the Board of Directors has declared a quarterly dividend payment of $0.06 per share, which will be paid on March 15, 2016 to stockholders of record as of March 1, 2016.