Home / Knowledge / News / Apparel/Garments / Citi Trends comparable store sales up 0.6%

Citi Trends comparable store sales up 0.6%

10
May '07
Citi Trends Inc reported unaudited sales results for the first quarter of fiscal 2007. Total sales for the thirteen-week period ended May 5, 2007 increased 16.2% to $106.6 million compared with $91.7 million for the thirteen-week period ended April 29, 2006. Comparable store sales increased 0.6% on a comparable store, comparable week basis.

Each quarter of fiscal 2007 starts one week later than the same quarter of 2006, due to the Company's 2006 fiscal year having 53 weeks versus the normal 52 weeks.

This timing shift can have a significant impact on quarterly sales comparisons. The measurement of sales in comparable stores for comparable weeks above is based on sales during the thirteen weeks ended May 5, 2007 in relation to the thirteen weeks ended May 6, 2006.

On a fiscal quarter basis, comparing the thirteen weeks ended May 5, 2007 with the thirteen weeks ended April 29, 2006, comparable store sales decreased 3.3%.

Sales comparisons for the first quarter of 2007 were difficult as the result of a 21% comparable store sales increase during last year's first quarter.

In addition, unseasonably cool weather just prior to Easter, historically our second largest selling period of the year, hurt sales of Spring/Summer apparel.

The Company had previously released guidance that first quarter 2007 earnings were expected to be in a range of $0.44 to $0.49 per diluted share. In light of the reported sales results, as well as information currently available related to operating expenses, management is revising its guidance for first quarter earnings to $0.37 to $0.40 per diluted share.

The Company expects to report full financial results for its first quarter after the market closes on May 24, 2007.

Citi Trends Inc


Must ReadView All

Pic: ECOS

Textiles | On 22nd Apr 2021

ECOS urges EC to apply ecodesign principles to textile products

The international NGO Environmental Coalition on Standards (ECOS) has ...

Pic: Salvatore Ferragamo

Apparel/Garments | On 22nd Apr 2021

Salvatore Ferragamo launches new platform to discuss sustainability

Italian luxury goods company Salvatore Ferragamo has launched...

Pic: Lululemon

Apparel/Garments | On 22nd Apr 2021

Canadian retailer Lululemon announces sustainability initiatives

Canada-based Lululemon Athletica has announced 2 new initiatives that ...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Akash Sehgal,

Akash Sehgal

Part of retail and hospitality conglomerate Landmark Group in Dubai,...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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