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Citi Trends expects earnings of $1.10 to $1.15 a share
27 Mar '08
3 min read
Financial Highlights – Fiscal year ended February 2, 2008:
Total sales in the 52-week fiscal year ended February 2, 2008 increased 14.6% to $437.5 million compared with $381.9 million in the 53-week fiscal year ended February 3, 2007.
The extra week last year contributed approximately $10 million of sales in 2006. Comparable store sales increased 1.0%, comparing the 52 weeks ended February 2, 2008 to the 52 weeks ended February 3, 2007.
Net income was $14.2 million in 2007 compared with $21.4 million in 2006. Earnings per diluted share was $1.00 in 2007 compared with $1.51 in the prior year.
Fiscal 2008 Outlook:
The Company estimates 2008 earnings in a range of $1.10 to $1.15 per diluted share. This guidance is based upon an anticipated 2008 comparable store sales increase of 2% to 3%. For the year, the Company expects to increase selling square footage by at least 15%.
The Company reminds investors of the complexity of accurately assessing future results given the difficulty in predicting fashion trends, consumer preferences and general economic conditions and the impact of other business variables. See “Forward-Looking Statements” below for more information regarding these uncertainties.
Investor Conference Call and Webcast:
Citi Trends will host a conference call on March 26, 2008, at 5:00 p.m. ET. The live broadcast of Citi Trends' quarterly conference call will be available online at the Company's website as well as on March 26, 2008, beginning at 5:00 p.m. ET. The online replay will follow shortly after the call and continue through April 2, 2008.
During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends. 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.
Total sales in the 52-week fiscal year ended February 2, 2008 increased 14.6% to $437.5 million compared with $381.9 million in the 53-week fiscal year ended February 3, 2007.
The extra week last year contributed approximately $10 million of sales in 2006. Comparable store sales increased 1.0%, comparing the 52 weeks ended February 2, 2008 to the 52 weeks ended February 3, 2007.
Net income was $14.2 million in 2007 compared with $21.4 million in 2006. Earnings per diluted share was $1.00 in 2007 compared with $1.51 in the prior year.
Fiscal 2008 Outlook:
The Company estimates 2008 earnings in a range of $1.10 to $1.15 per diluted share. This guidance is based upon an anticipated 2008 comparable store sales increase of 2% to 3%. For the year, the Company expects to increase selling square footage by at least 15%.
The Company reminds investors of the complexity of accurately assessing future results given the difficulty in predicting fashion trends, consumer preferences and general economic conditions and the impact of other business variables. See “Forward-Looking Statements” below for more information regarding these uncertainties.
Investor Conference Call and Webcast:
Citi Trends will host a conference call on March 26, 2008, at 5:00 p.m. ET. The live broadcast of Citi Trends' quarterly conference call will be available online at the Company's website as well as on March 26, 2008, beginning at 5:00 p.m. ET. The online replay will follow shortly after the call and continue through April 2, 2008.
During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends. 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.
Citi Trends Inc
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