logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its second-quarter operating profit will rise about 22.73 percent from last year, due to increasing demand for server chips as countries around the world adopt work-from-home measures during the coronavirus pandemic. But, it projects sales will decrease 7.36 percent. Ford plans to bring back the Bronco as a dedicated off-road brand when it launches an all-new 4x4 SUV lineup on July 13. The automaker said it will introduce an all-new Bronco brand under the tagline, "Built Wild". The new lineup includes two-door and four-door models of the Bronco as well as the Bronco Sport compact SUV. J. M. Smucker Co. is recalling certain Natural Balance canned cat food, citing health concerns likely associated with increased levels of choline chloride, an animal growth promotant, the U.S. Food and Drug Administration said in a statement. The recall was initiated after receiving reports of adverse reactions.
RELATED NEWS
Follow RTT