• Q1 net profit down 17% to US$10.1m
  • Sales up 4.5% to $197.7m
  • Comparable store sales down 5%

Value-priced fashion retailer Citi Trends posted a double-digit fall in first quarter net profit as comparable store sales dipped, despite an increase in total revenues.

In the three months to 28 April, the company opened two stores, relocated one store and closed two stores, finishing the quarter with a total of 511 stores spread across 29 states in the US.