Citi Trends, Inc. (CTRN) - Bull of the Day
July 05 2012 - 8:00PM
Zacks
We are upgrading our long-term recommendation on
Citi Trends,
Inc. (CTRN) to Outperform on the back of the company's
better-than-expected first-quarter 2012 results. After reporting a
loss in three consecutive quarters, Citi Trends posted positive
earnings of $0.69 per share.
Despite a 5% decline in comparable store sales, Citi Trends net
sales increased 4.5% from the prior-year quarter, beating the Zacks
Consensus Estimate. We believe Citi Trends effective cost-control
initiatives and inventory management has helped it to drive
growth.
Moreover, Citi Trends' extensive focus on store expansion
strategy will drive top-line growth in the future. Looking ahead,
the company has taken prudent steps to reduce inventory shrinkages,
which we believe will facilitate its operational performance.
CITI TRENDS INC (CTRN): Free Stock Analysis Report
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