Home / Knowledge / News / Apparel/Garments / Citi Trends expects earnings of $1.10 to $1.15 a share
Citi Trends expects earnings of $1.10 to $1.15 a share
27
Mar '08
Citi Trends Inc reported results for the fourth quarter and fiscal year ended February 2, 2008.

The Company's 2007 fiscal year contained the traditional 52 weeks, whereas, fiscal 2006 contained 53 weeks, with the extra week falling in the fourth quarter.

Accordingly, comparisons of total sales and net income for the fourth quarter and full year of fiscal 2007 to the same periods in 2006 are affected by an extra week in 2006.
However, for comparable store sales, the Company is reporting on a comparable weeks basis (e.g. the 13 weeks ended February 2, 2008 compared to the 13 weeks ended February 3, 2007).

Financial Highlights – Fourth quarter ended February 2, 2008:
Total sales in the 13-week quarter ended February 2, 2008 increased 6.2% to $134.6 million compared with $126.8 million in the 14-week quarter ended February 3, 2007.

Comparable store sales decreased 1.1%, comparing the 13 weeks ended February 2, 2008 to the 13 weeks ended February 3, 2007.

Net income was $8.4 million compared with $10.4 million in last year's fourth quarter. Earnings per diluted share was $0.59 in the fourth quarter of 2007 compared to $0.73 in 2006.

The decline in fourth quarter earnings was a result of the negative comparable store sales and a related need to increase clearance markdowns, together with the inclusion of the extra week in 2006.

However, these factors were partially offset by a favorable effective income tax rate in 2007 due to income tax credits and tax-exempt income increasing, while pretax income was decreasing.


Must ReadView All

SABIC signs MoU with PRC province for petrochem complex

Textiles | On 26th Sep 2018

SABIC signs MoU with PRC province for petrochem complex

The Saudi Basic Industries Corporation (SABIC) recently announced the ...

Courtesy: Industree Skill Transform

Textiles | On 26th Sep 2018

Industree helps weavers enhance design capabilities

Industree Skill Transform Pvt Ltd (ISTPL) is a skill development...

Courtesy: Pexels

Textiles | On 26th Sep 2018

Rhode Textile Innovation Network to promote manufacturing

Promoting textile manufacturing in the state of Rhode Island, a...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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


October 2018

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

news category


Related Categories:

Advanced Search