Family apparel retailer Citi Trends Inc reported unaudited sales results for the four-week period ended November 26, 2005.
Total net sales for the four-week period ended November 26, 2005 increased 43.5 percent to $24.7 million compared with $17.2 million for the four-week period ended November 27, 2004.
Comparable store sales increased 26.0 percent for the four- week period ended November 26, 2005, compared with a 0.9 percent increase in the prior-year period.
Relocated and expanded stores are included in the comparable store sales results.
Consistent with trends previously noted in September and October, the Company's November sales results benefited from increased customer traffic following Hurricanes Katrina, Rita and Wilma.
After the hurricanes, sales in the stores directly affected by the hurricanes as well as stores located in contiguous areas have increased dramatically.
This rebound effect has significantly more than offset the negative effect of the closings.
Sales in the non-affected comparable stores increased approximately 17-19 percent for November.
The Company has opened 27 stores to date in fiscal 2005, reaching a total store count of 227 (including the four stores currently closed due to the hurricanes).
The Company plans to open 10 additional new stores in the fourth quarter and re-open by year end from none to two of the four stores currently closed, bringing the stores in operation at year end to a total of 233 to 235 stores in operation.
Citi Trends Inc is a value-priced retailer of urban fashion apparel and accessories for the entire family.
The Company currently operates 227 stores (including the 4 stores currently closed due to the hurricanes) located in 12 states in the South, Southeast and Mid-Atlantic region.
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