US: Citi Trends moves to Q4 profit
- Q4 earnings of US$1.5m
- Net sales drop 10.5%
- Comparable sales fall 3.5%
Value fashion retailer Citi Trends has moved to a profit in its fourth-quarter and booked an increase in revenues.
Earnings reached US$1.5m in the three months ended 1 February. This compared to a net loss of $0.7m in the year ago period.
Total sales in the period, however, dropped 10.5% to $157.2m from $175.7m a year earlier. An extra week at the beginning of last year contributed around $21m to the 2012 figure. Comparable store sales were down 3.5% for the quarter.
- Why should brands care about China cotton?
- New Gap CEO set to tackle “aesthetic issue”
- Falling euro adds to Bangladesh production woes
- Low labour cost countries linked to highest risks
- Myanmar Code of Conduct a first step in compliance
- M&S Asia head quits as China stores to close
- Abercrombie & Fitch reports “dismal” FY
- Gap names new design head amid mixed Q4
- Pay rise mulled for Sri Lanka garment workers
- US labour concerns at Honduras apparel makers
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Global market review of swimwear - forecasts to 2019