US: Citi Trends sees Q3 losses narrow on sales rise
- Q3 loss narrowed to $3.7m
- Total sales up 4.1% to $149m
- Comparable store sales climbed 0.5%.
Value-priced fashion retailer Citi Trends saw its third-quarter net losses narrow on the back of rising sales.
Net losses narrowed to US$3.7m over the 13 weeks to 27 October, compared to a $6.8m loss the year before.
The retailer, which operates 513 stores, said last year's third quarter was impacted by $1.2m in severance costs as it axed 40 jobs in its corporate offices, distribution centres and stores.
Meanwhile, total sales climbed 4.1% to $149m compared to $143.1m the year before, while comparable store sales edged up 0.5%.
Citi Trends opened one store and relocated or expanded two others during the quarter.
US clothing retailer Citi Trends swung to a fourth quarter loss after recording disappointing sales over the period. ...
- Sustainable fibres, finishes and processes at ITMA
- Esquel CEO says automation core to competitiveness
- Freeing up working capital in the supply chain
- Five ways to tackle market and demand volatility
- ‘Fixing Fashion’ one stitch at a time
- Uniqlo under fire again for China worker abuses
- German sustainable textile scheme heads to Vietnam
- VF Corp and Kohl's join White House climate pledge
- US Q3 in brief: Shoe Carnival, Caleres
- Adidas develops high-tech swimwear range
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory