Citi Trends' total net sales rise 22.3% for 14-week period
30 Nov '06
1 min read
Citi Trends Inc reported unaudited sales results for the four-week period ended November 25, 2006.
Total net sales for the four-week period ended November 25, 2006, increased 22.3 percent to $30.2 million compared with $24.7 million for the four-week period ended November 26, 2005.
Comparable store sales increased 1.8 percent for the four-week period ended November 25, 2006, compared with a 26.0 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 prior year 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 increased dramatically.
This rebound effect significantly more than offset the negative effect of the stores that were closed during September, October and November last year.
For the current fiscal year, we estimate that sales in the non-affected comparable stores increased approximately 3 percent to 4 percent in November.
marketing@alchempro.com
