US-based Citi Trends' has raised its full-year guidance on strong Q3, FY25 results.
An off-price value retailer focused primarily on African American families, the company reported strong top-line momentum driven by its ongoing strategic transformation. Their total sales grew by 10.1 per cent from Q3, FY24 to $197.1 million.
Comparable store sales increased by 10.8 per cent as traffic and basket increased. However the company’s loss widened to $6.9 million. Gross margins declined by 90 basis points due to the pull-forward of freight expenses from Q4 to balance the holiday workload.
This strong performance was broad-based across all store groups, geographies, and product categories, fueled by a successful back-to-school season, noted Ken Seipel, CEO.
