Urban fashion apparel retailer Citi Trends announces Dec sales results
04 Jan '07
1 min read
Citi Trends Inc reported unaudited sales results for the five-week period ended December 30, 2006.
Total net sales for the five-week period ended December 30, 2006, increased 17.8% to $60.4 million compared with $51.3 million for the five-week period ended December 31, 2005. Comparable store sales decreased 0.1% for the five-week period ended December 30, 2006, compared with a 21.4% 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 through November, the Company's prior year December 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, November and December last year. For the current fiscal year, we estimate that sales in the non-affected comparable stores increased approximately 1% to 3% in December.
marketing@alchempro.com
