Citi Trends Q2 Loss Increases, but beats estimates

(RTTNews) - Citi Trends (CTRN) revealed Loss for its second quarter that increased from last year but beat the Street estimates.

The company's earnings came in at -$5.032 million, or -$0.61 per share. This compares with -$2.536 million, or -$0.31 per share, in last year's second quarter.

Excluding items, Citi Trends reported adjusted earnings of -$0.60 per share for the period.

Analysts on average had expected the company to earn -$0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.2% to $173.554 million from $185.012 million last year.

Citi Trends earnings at a glance (GAAP) :

-Earnings (Q2): -$5.032 Mln. vs. -$2.536 Mln. last year. -EPS (Q2): -$0.61 vs. -$0.31 last year. -Analyst Estimate: -$0.97 -Revenue (Q2): $173.554 Mln vs. $185.012 Mln last year.