Citi Trends Q2 FY'13 sales increase 4.2%

Total sales in the second quarter ended August 3, 2013 increased 4.2% to $137.8 million compared with $132.3 million in the second quarter ended July 28, 2012. Comparable store sales increased 1.7% in the second quarter on a comparable weeks basis. Net loss was $5.5 million, or $0.37 per diluted share, in the second quarter of 2013, compared with a net loss of $7.9 million, or $0.54 per diluted share, in the second quarter of 2012.

The Company closed two stores in the second quarter of 2013, resulting in a total store count of 506 at the end of the quarter.

Financial Highlights – First half ended August 3, 2013

Total sales in the first half of fiscal 2013 decreased 3.1% to $319.6 million compared with $330.0 million in the first half of fiscal 2012. Comparable store sales decreased 1.7% in the first half of this year. Net income decreased to $0.7 million compared with $2.2 million in last year’s first half. Earnings per diluted share were $0.05 in the first half of 2013 compared with $0.15 in 2012’s first half.

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