Specialty value retailer Citi Trends, Inc. (CTRN) reported Tuesday net income for the second quarter of $3.82 million or $0.46 per share, compared to a net loss of $18.41 million or $2.21 per share in the prior-year quarter.
Total sales for the quarter grew 8.0 percent to $190.75 million from $176.55 million in the same quarter last year. Comparable store sales increased 9.2 percent.
On average, three analysts polled by Thomson Reuters expected the company to report a loss of $1.01 per share on sales of $188.20 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company now expects comparable store sales growth of mid to high-single digits, up from the previous outlook of mid-single digit growth.
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