Citi Trends, Inc. Announces Fiscal 2005 May Sales Results
Citi Trends, Inc. Announces Fiscal 2005 May Sales Results
June 1, 2005 at 12:00 AM EDT
Citi Trends, Inc. Announces Fiscal 2005 May Sales ResultsSAVANNAH, GA--(MARKET WIRE)--Jun 1, 2005 -- Citi Trends, Inc. (NasdaqNM:CTRN - News) today reported sales results for the month of May.
Total net sales for the month of May (4 weeks) increased by 37.6% to $17.9 million from $13.0 million reported in the prior fiscal year. Comparable store sales increased 11.1% for the month of May in fiscal 2005 compared to 7.7% in the month of May in fiscal 2004. Relocated stores and expanded stores are included in the comparable store sales results.
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company currently operates 214 stores located in 12 states in the South, Southeast and Mid-Atlantic region, and our website address is www.cititrends.com.
Forward-Looking Statements
All statements other than historical facts contained in this news release, including statements regarding our future financial position, business policy and plans and objectives of management for future operations, are forward-looking statements that are subject to material risks and uncertainties. The words "believe," "may," "could," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions, as they relate to Citi Trends, are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors which are discussed in Citi Trends, Inc. filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, uncertainties relating to economic conditions, growth and expansion risks, consumer spending patterns, competition within the industry, competition in our markets and the ability to anticipate and respond to fashion trends. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, Citi Trends does not undertake to publicly update any forward-looking statements in this news release or with respect to matters described herein, whether as a result of any new information, future events or otherwise.
Company Contact:
Total net sales for the month of May (4 weeks) increased by 37.6% to $17.9 million from $13.0 million reported in the prior fiscal year. Comparable store sales increased 11.1% for the month of May in fiscal 2005 compared to 7.7% in the month of May in fiscal 2004. Relocated stores and expanded stores are included in the comparable store sales results.
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company currently operates 214 stores located in 12 states in the South, Southeast and Mid-Atlantic region, and our website address is www.cititrends.com.
Forward-Looking Statements
All statements other than historical facts contained in this news release, including statements regarding our future financial position, business policy and plans and objectives of management for future operations, are forward-looking statements that are subject to material risks and uncertainties. The words "believe," "may," "could," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions, as they relate to Citi Trends, are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors which are discussed in Citi Trends, Inc. filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, uncertainties relating to economic conditions, growth and expansion risks, consumer spending patterns, competition within the industry, competition in our markets and the ability to anticipate and respond to fashion trends. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, Citi Trends does not undertake to publicly update any forward-looking statements in this news release or with respect to matters described herein, whether as a result of any new information, future events or otherwise.
Company Contact:
Tom Stoltz
Chief Financial Officer
Citi Trends, Inc
(912) 443-2075
tstoltz@cititrends.com
http://www.cititrends.com
Ed Anderson
Chief Executive Officer
Citi Trends, Inc
(912) 443-3705
eanderson@cititrends.com
http://www.cititrends.com