Urban fashion apparel retailer Citi Trends Jan sales up
08 Feb '07
3 min read
Citi Trends Inc reported unaudited sales results for the 5-week January period, the 14-week Fourth Quarter and the 53-week 2006 Fiscal year, all ended February 3, 2007.
The Company's 2006 Fiscal Year, ending February 3, 2007, contains 53 weeks versus the normal 52 weeks, with the extra week falling in the January 2007 reporting period. The Company is reporting net sales according to the fiscal calendar; e.g., 5 weeks versus 4 weeks in January, 14 weeks versus 13 in the Fourth Quarter and 53 weeks versus 52 weeks for the year. However, for comparable stores sales, the Company is reporting on a comparable store, comparable week basis; e.g. for January, the 5 weeks ended February 3, 2007 compared to the 5 weeks ended February 4, 2006.
The 53rd week of Fiscal 2006, the week ending February 3, 2007, is normally the first week of the First Quarter. This year, due to the fiscal year reporting, that week is added to the Fourth Quarter of 2006. Sales for the week ended February 3, 2007 were approximately $10 million.
For January, total net sales for the five-week period ended February 3, 2007 increased 73.5% to $36.2 million, compared with $20.9 million for the four-week period ended January 28, 2006. Comparable store sales for the five weeks ended February 3, 2007, compared to the five weeks ended February 4, 2006, increased 3.2%. Comparable store sales increased 22.7% in last year's January. Relocated and expanded stores are included in the comparable store sales results.
marketing@alchempro.com
