US: Citi Trends Q1 profit down despite sales rise
- 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.
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- US apparel retailers' November 2016 sales roundup
- Why do modern robotics elude sportswear makers?
- Software for financial planning and operations
- Esquel efficiency drive continues to boost brands
- US Q3 in brief – Oxford Industries, Genesco
- Myanmar garment industry "lacking labour rights"
- Columbia waterproof jacket first made without PFCs
- Adidas NYC flagship raises the bar on sport stores