Home / Knowledge / News / Apparel/Garments / Net income grow up at value-priced urban fashion apparel retailer

Net income grow up at value-priced urban fashion apparel retailer

22
Mar '07
Citi Trends Inc reported results for the 14-week and 53-week periods ended February 3, 2007.

Financial Highlights - 14 weeks ended February 3, 2007:
Net sales increased 30.9% to $126.8 million compared with $96.8 million for the 13-week period ended January 28, 2006. Comparable store sales, on a comparable weeks basis, increased 1.3% compared with a 22.8% increase in the prior year.

Relocated and expanded stores are included in the comparable store sales results. Net income increased 30.9% to $10.4 million compared with $7.9 million for the prior-year quarter. Earnings per diluted share increased 32.7% to $0.73 compared with $0.55 in the prior year quarter.

The Company's 2006 Fiscal Year, ending February 3, 2007, contains 53 weeks versus the normal 52 weeks, with the extra week falling in the fourth quarter. The 53rd week of 2006 contributed $10.1 million of sales and approximately $0.10 per share to the fourth quarter and year.

Financial Highlights - 53 weeks ended February 3, 2007:
Net sales increased 31.8% to $381.9 million compared with $289.8 million for the 52-week period ended January 28, 2006. Comparable store sales, on a comparable weeks basis, increased 8.2% compared with a 16.7% increase in the prior year. Net income increased 50.4% to $21.4 million compared with $14.2 million for the prior year. Earnings per diluted share increased 39.8% to $1.51 compared with $1.08 in the prior year.

Fiscal 2007 Outlook:
The Company reiterates its prior estimate for Fiscal 2007 earnings of between $1.73 and $1.77 per diluted share. This estimate is based upon a fiscal 2007 comparable store sales increase of low single digits, 14.3 million diluted shares outstanding, and the opening of 46 to 48 new stores. The new store openings in fiscal 2007 are expected to increase selling square footage by approximately 20%.


Must ReadView All

Pic: EIN Presswire

Apparel/Garments | On 19th Apr 2021

EC funds campaign on disastrous impact of fast fashion

With clothes consumption increasing by 60 per cent in only 15 years,...

Pic: Target Corporation

Retail | On 19th Apr 2021

Target Corp to spend over $2 bn with Black-owned businesses by 2025

As part of its commitment to social justice and racial equity, Target ...

Pic: PR Newswire

Textiles | On 19th Apr 2021

Japanese firm Epson launches textile printer for customised clothing

Epson has launched the industrial-level SureColor F10070H...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search