US clothing retailer Citi Trends' Q4 FY20 sales grow 19% to $252 mn

Citi Trends, a US-based leading value retailer of apparel and home trends, has reported 19.4 per cent sales growth to $251.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021, compared to the sales of $211.0 million in the same period previous fiscal. The company’s net income for the quarter rose to $18.0 million (Q4 FY19: $9.4 million).

 

Citi Trends, a US-based leading value retailer of apparel and home trends, has reported 19.4 per cent sales growth to $251.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021, compared to the sales of $211.0 million in the same period previous fiscal. The company's net income for the quarter rose to $18.0 million (Q4 FY19: $9.4 million).#

“We are thrilled with our record fourth quarter performance with top and bottom line results that exceeded our increased expectations we announced in January as we closed out an outstanding year for Citi Trends. Our robust fourth quarter revenue was driven by the increased demand for our on-trend merchandise assortment that continues to resonate with our customers, with apparel contributing the bulk of our store sales increase,” David Makuen, chief executive officer at Citi Trends, said in a press release.

 

Citi Trends, a US-based leading value retailer of apparel and home trends, has reported 19.4 per cent sales growth to $251.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021, compared to the sales of $211.0 million in the same period previous fiscal. The company's net income for the quarter rose to $18.0 million (Q4 FY19: $9.4 million).#

The company’s income from operations during Q4 FY20 jumped to $23.7 million($11.2 million).

 

Citi Trends, a US-based leading value retailer of apparel and home trends, has reported 19.4 per cent sales growth to $251.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021, compared to the sales of $211.0 million in the same period previous fiscal. The company's net income for the quarter rose to $18.0 million (Q4 FY19: $9.4 million).#

“As the early innings of 2021 play out, we feel very good about the underlying momentum of the business. We are keenly focused on the execution of our four strategic pillars of growing the fleet, optimising our product mix, investing in infrastructure, and making a difference through our newly formed corporate social responsibility committee of the board of directors,” Makuen said.