Citi Trends Turns To Profit In Q4 - Quick Facts

(RTTNews) - Citi Trends Inc. (CTRN) said that its fourth quarter of 2013 net income was $1.5 million or $0.10 per share compared to a net loss of $0.7 million or $0.05 per share, in last year's fourth quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales in the 13 weeks ended February 1, 2014 decreased 10.5% to $157.2 million compared with $175.7 million in the 14 weeks ended February 2, 2013, with the extra week at the beginning of fiscal 2012's fourth quarter contributing approximately $12 million to total sales. Five analysts estimated revenues of $162.02 million for the quarter.

For comparable store sales, the company reported on a comparable weeks basis. i.e. the 13 weeks ended February 1, 2014 compared to the 13 weeks ended February 2, 2013. Comparable store sales on a comparable weeks basis decreased 3.5% for the quarter.