(RTTNews) – Shares of Citi Trends, Inc. (CTRN), a retailer of apparel, accessories and home goods, are rising more than 20% Tuesday morning after the company announced second-quarter to date sales better than expectations.
Sales in the second quarter through June 27, increased 25% compared to the same period of the prior year.
Comparable-store sales for reopened stores from their respective opening dates in the second quarter through June 27, increased 53%.
The company has reopened 564 of its 574 stores closed due to COVID-19, with the remaining stores expected to open by the end of July.
David Makuen, Chief Executive Officer, said, “Our strong second quarter-to-date performance was driven by growth in both transactions and the average transaction size”.
Citi Trends stock is currently trading at $19.14. It has traded in the range of $6.70- $24.78 in the past 52 weeks.
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