Citi Trends Shares Jump 14% On Strong Q1 Earnings

(RTTNews) - Citi Trends Inc. (CTRN) surged 14.29 percent to $30.87 after reporting a snapshot of better-than-expected results on Tuesday for its fiscal first quarter. The company posted net income of $871,000, or $0.11 per share, and adjusted earnings of $0.17 per share, excluding non-recurring and asset impairment costs. Citi Trends opened at $31.67 and traded between $30.01 and $32.00 on the Nasdaq. The stock's previous close was $27.01. Trading volume reached 197,558 shares, well above the daily average of 81,257. The stock is now trading near the top of its 52-week range of $13.66 to $32.00.

Revenue for the quarter reached $201.7 million, reflecting solid performance in its clothing and accessories segment.