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Citi Trends fiscal Q1 profit climbs 43.5% YOY

Citi Trends Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 59 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS increased 42.0% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.8 million, an increase of 43.5% from $6.2 million in the year-earlier period.

The normalized profit margin rose to 4.7% from 3.4% in the year-earlier period.

Total revenue rose year over year to $188.0 million from $181.8 million, and total operating expenses climbed year over year to $173.9 million from $172.0 million.

Reported net income grew 46.7% on an annual basis to $9.1 million, or 61 cents per share, from $6.2 million, or 42 cents per share.