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Stock Alert: Citi Trends Trading 20% Higher On Better Sales

Shares of Citi Trends, Inc. (CTRN), a retailer of apparel, accessories and home goods, are rising more than 20% Tuesday morning after the company announced second-quarter to date sales better than expectations.

Sales in the second quarter through June 27, increased 25% compared to the same period of the prior year.

Comparable-store sales for reopened stores from their respective opening dates in the second quarter through June 27, increased 53%.

The company has reopened 564 of its 574 stores closed due to COVID-19, with the remaining stores expected to open by the end of July.

David Makuen, Chief Executive Officer, said, "Our strong second quarter-to-date performance was driven by growth in both transactions and the average transaction size".

Citi Trends stock is currently trading at $19.14. It has traded in the range of $6.70- $24.78 in the past 52 weeks.

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