By Adriano Marchese
Citi Trends reported a loss in the fiscal fourth quarter as sales declined.
The discount clothing chain on Tuesday posted a net loss of $14.2 million, or $1.71 a share, compared with a profit of $3.6 million, or 42 cents a share, in the same quarter a year earlier.
The company noted that the results for this 13-week quarter compared with the 14-week period of the prior year's fourth quarter.
Sales fell to 1.9% $211.2 million. In December, the company guided for a decline in the mid-single digits. Comparable-store sales saw growth of 6.4% while average store inventory decreased by 6.7%, driven by stronger customer traffic and shoppers buying more during each visit.
The company had guided for comparable-store sales to rise in the low- to mid-single digits.
During the quarter, Citi closed two of its stores to end the year with 591 locations in its network.
Looking ahead to the full year, Citi expects comparable-store sales growth of low- to mid-single digits. Adjusted earnings before interest, taxes, depreciation and amortization are forecasted at $5 million to $9 million, up from an adjusted Ebitda loss of $14.2 million in 2024.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 18, 2025 07:15 ET (11:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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