Citi Trends Announces Third Quarter Sales
November 05 2008 - 3:00PM
Business Wire
Citi Trends, Inc. (NASDAQ: CTRN) today reported unaudited sales
results for the third quarter of fiscal 2008. Total sales in the
13-week period ended November 1, 2008 increased 5.4% to $104.9
million compared with $99.5 million in the 13-week period ended
November 3, 2007. Comparable store sales decreased 4.2% in the
third quarter. In light of the decline in comparable store sales,
the Company believes it will recognize a loss per diluted share in
a range of $0.09 to $0.13, compared to last year�s third quarter
loss of $0.04. The Company will report complete financial results
for its third quarter after the market closes on November 24, 2008.
Citi Trends will host a conference call on the same day at 5:00
p.m. ET. The number to call for the live interactive teleconference
is (303)�262-2143. A replay of the conference call will be
available until December 1, 2008, by dialing (303)�590-3000 and
entering the passcode, 11113318#. The live broadcast of Citi
Trends' quarterly conference call will be available online at the
Company's website, www.cititrends.com, as well as
http://ir.cititrends.com/events.cfm on�November 24, 2008, beginning
at 5:00 p.m. ET. The online replay will follow shortly after the
call and continue until December 1, 2008. About Citi Trends Citi
Trends, Inc. is a value-priced retailer of urban fashion apparel
and accessories for the entire family. The Company currently
operates 344 stores located in 21 states in the Southeast,
Mid-Atlantic and Midwest regions and the state of Texas. Citi
Trends� website address is www.cititrends.com. Forward-Looking
Statements All statements other than historical facts contained in
this news release, including statements regarding our future
financial results and position, business policy and plans and
objectives of management for future operations, are forward-looking
statements that are subject to material risks and uncertainties.
The words "believe," "may," "could," "plans," "estimate,"
"continue," "anticipate," "intend," "expect" and similar
expressions, as they relate to Citi Trends, are intended to
identify forward-looking statements. Statements with respect to
earnings guidance are forward-looking statements. Investors are
cautioned that any such forward-looking statements are subject to
the finalization of the Company�s quarterly financial and
accounting procedures, are not guarantees of future performance or
results and are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Actual results or
developments may differ materially from those included in the
forward-looking statements, as a result of various factors which
are discussed in Citi Trends, Inc. filings with the Securities and
Exchange Commission. These risks and uncertainties include, but are
not limited to, uncertainties relating to economic conditions,
growth risks, consumer spending patterns, competition within the
industry, competition in our markets and the ability to anticipate
and respond to fashion trends. Except as required by applicable
law, including the securities laws of the United States and the
rules and regulations of the Securities and Exchange Commission,
Citi Trends does not undertake to publicly update any
forward-looking statements in this news release or with respect to
matters described herein, whether as a result of any new
information, future events or otherwise. CTRN-E
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