Citi Trends Inc reported results for the first quarter of fiscal 2012. Total sales in the first quarter ended April 28, 2012 increased 4.5% to $197.7 million compared with $189.2 million in the first quarter ended April 30, 2011. Comparable store sales decreased 5.0% in the first quarter.
Net income was $10.1 million, or $0.69 per diluted share, in the first quarter of 2012, compared with $12.1 million, or $0.83 per diluted share, in last year's first quarter.
The Company opened two stores, relocated one store, and closed two stores in the first quarter of 2012, resulting in a total store count of 511 at the end of the quarter.
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company operates 511 stores located in 29 states.
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