Savannah, Ga. Citi Trends said Friday that its fiscal fourth-quarter profit increased on beefed-up sales. The clothing retailer posted quarterly earnings of $11.3 million, a 12% increase over the year-ago period.
Sales rose 16% to $169.8 million from $146.6 million, in line with Wall Street estimates. Same-store sales grew 1.2% in the quarter.
For the year, earnings rose to $19.7 million, compared with $17.4 million in the prior year. Annual sales increased 13% to $551.9 million, from $488.2 million. Same-store sales edged up 0.6%.