Citi Trends Announces Fourth Quarter and Fiscal 2008 Sales
February 04 2009 - 4:00PM
Business Wire
Citi Trends, Inc. (NASDAQ: CTRN) today reported unaudited sales
results for the fourth quarter and full year of fiscal 2008.
Total sales in the 13-week period ended January 31, 2009
increased 8.9% to $146.6 million compared with $134.6 million in
the 13-week period ended February 2, 2008. Comparable store sales
decreased 1.9% in the fourth quarter.
For the year, total sales increased 11.6% to $488.2 million
compared with $437.5 million in fiscal 2007. Comparable store sales
were flat for the full year.
The Company will report complete financial results for its
fourth quarter after the market closes on March 25, 2009. Citi
Trends will host a conference call on the same day at 5:00 p.m. ET.
The number to call for the live interactive teleconference is
(303)�228-2960. A replay of the conference call will be available
until April 1, 2009, by dialing (303)�590-3000 and entering the
passcode, 11124062#.
The live broadcast of Citi Trends' quarterly conference call
will be available online at the Company's website,
www.cititrends.com, as well as http://ir.cititrends.com/events.cfm
on�March 25, 2009, beginning at 5:00 p.m. ET. The online replay
will follow shortly after the call and continue until April 1,
2009.
The Company also disclosed its sales reporting policy for future
quarters. Commencing with the first quarter of fiscal 2009, the
Company will report sales in conjunction with its quarterly
earnings release. For future fourth quarters, however, the Company
will continue to report sales results on the Wednesday following
the quarter end due to the typical longer gap that occurs with
fiscal year end reporting and audits.
About Citi
Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion
apparel and accessories for the entire family. The Company
currently operates 357 stores located in 22 states in the
Southeast, Mid-Atlantic and Midwest regions and the state of Texas.
Citi Trends� website address is www.cititrends.com. CTRN-E
Forward-Looking Statements
All statements other than historical facts contained in this
news release, including statements regarding our future financial
results and position, business policy and plans and objectives of
management for future operations, are forward-looking statements
that are subject to material risks and uncertainties. The words
"believe," "may," "could," "plans," "estimate," "continue,"
"anticipate," "intend," "expect" and similar expressions, as they
relate to Citi Trends, are intended to identify forward-looking
statements. Statements with respect to earnings guidance are
forward-looking statements. Investors are cautioned that any such
forward-looking statements are subject to the finalization of the
Company�s year-end financial and accounting procedures, are not
guarantees of future performance or results and are inherently
subject to risks and uncertainties, some of which cannot be
predicted or quantified. Actual results or developments may differ
materially from those included in the forward-looking statements,
as a result of various factors which are discussed in Citi Trends,
Inc. filings with the Securities and Exchange Commission. These
risks and uncertainties include, but are not limited to,
uncertainties relating to economic conditions, growth risks,
consumer spending patterns, competition within the industry,
competition in our markets and the ability to anticipate and
respond to fashion trends. Except as required by applicable law,
including the securities laws of the United States and the rules
and regulations of the Securities and Exchange Commission, Citi
Trends does not undertake to publicly update any forward-looking
statements in this news release or with respect to matters
described herein, whether as a result of any new information,
future events or otherwise.
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