Citi Trends Shares Drop After Q3 Results Fell Short Of Analysts' View

Shares of Citi Trends, Inc. (CTRN), a value retailer of fashion apparel, accessories, and home goods, are falling more than 13% Tuesday morning after the company reported third-quarter results, below analysts’ view.

The company reported a loss of $3.86 million or $0.47 per share for the third quarter, compared with profit of $24.59 million or $3.02 per share in the same quarter a year ago.

Excluding one-time items, loss of $0.56 per share missed the average estimate of analysts polled by Thomson-Reuters of $0.17 loss per share.

Sales for the quarter declined 6.7% year on year to $179.52 million, below the consensus estimate of $186.03 million.

CTRN, currently at $22.44, has traded in the range of $14.21 – $34.94 in the last 1 year.

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