• Q2 loss widens to $10.0m or $0.69 per share
  • Total sales rose 0.9% to $130.2m
  • Comparable store sales fell 11.9% 

Value fashion retailer Citi Trends Inc has blamed falling sales, clearance markdowns and impairment costs for widening its second quarter loss. 

The company also incurred $0.6m of expenses in connection with the closing of its Savannah, Georgia distribution centre.

Net loss at the retailer, which operates 486 stores, was $10.0m or $0.69 per share in the three months to 30 July. This compares with a net loss of $0.6m or $0.04 per share, the year before.