Net income grow up at value-priced urban fashion apparel retailer
22 Mar '07
3 min read
First Quarter 2007 Outlook: The Company estimates First Quarter 2007 earnings of $0.44 to $0.49 per diluted share. The Company generated a comparable store sales increase of 21 percent during last year's First Quarter, making comparisons difficult for the year. Further, the 13-week first quarter of 2007 starts and ends one week later than last year's first quarter.
This calendar shift has the potential effect of reducing comparable store sales by up to 4%. As a result of last year's high comparable sales increase and the calendar shift, the Company expects some pressure on gross margin and de-leveraging of SG&A in the first quarter compared with last year.
The Company reminds investors of the complexity of accurately assessing future growth given the difficulty in predicting fashion trends, consumer preferences and general economic conditions and the impact of other business variables.
Citi Trends will host a conference call on March 21, 2007, at 5:00 p.m. EDT.
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