Rochester, NY 8/22/2009 6:03:38 AM
Citi Trends, Inc., CTRN ,Citi Trends Second Quarter Results Missed Street Estimates, Shares Declines
Citi Trends, Inc.
Citi Trends Inc. recently release its second quarter results that missed Wall Street estimates, hurt by lower gross margins due to higher merchandise markdowns, and narrowed its fiscal-year earnings outlook, sending its shares down 12 percent.
For fiscal 2009, the fashion apparel retailer forecast earnings of $1.28 to $1.33 a share, compared with its prior view of $1.33 a share. Analysts were expecting earnings of $1.35 a share, before items, according to Reuters Estimates.
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