Citi Trends reports Q2 EPS 46c vs. ($1.94) last year

Reports Q2 revenue $190.8M vs. $176.55M last year. CEO Ken Seipel said: “I’m pleased to report another quarter of strong, consistent performance as our strategic transformation continues to build momentum. Our second quarter results underscore our recent success executing our key initiatives, which drove comparable store sales up 9.2% – our fourth consecutive quarter and 12 straight months of consistent comparable sales gains. Year-to-date, comps are up 9.6%, with a two-year stack of 10.3%, reflecting the sustained, broad-based performance improvement across the company. I am also pleased year-to-date sales momentum has continued into the important August back to school period. The majority of our sales growth over the past four quarters has been driven by increased customer traffic and transactions…Our three-phase strategic framework – Repair, Execute, and Optimize – continues to position Citi Trends (CTRN) for sustainable, profitable growth, and I am confident in our ability to deliver strong results and capture additional market share in the future.”