Citi Trends (CTRN), a value-priced retailer of urban fashion apparel and accessories, saw its loss narrow to $2.58 million or $0.17 a share for the quarter ended Aug. 2, 2014. In the previous year period, the company disclosed a loss of $5.49 million or $0.37 a share. Analysts on average had predicted net loss of $0.28 a share.
Revenue during the second-quarter grew 5.20 percent to $144.99 million from $137.82 million in the last year period.
Gross margin expanded by 93 basis points over the previous year period to 36.86 percent. Operating margin for the current period stood at negative 3.41 percent as compared to negative 6.33 percent for the previous year period.
The company disclosed operating loss of $4.94 million, compared with operating loss of $8.72 million in the last year period.
Cash Flow
As on Aug. 02, 2014, the company's cash balance stood at $70.71 million, up 15.46 percent or $9.46 million from Aug. 03, 2013.
Working Capital
Citi Trends has witnessed an increase in the working capital over the last one year. The company's working capital stood at $135.29 million as at Aug. 02, 2014, up $8.94 million or 7.07 percent from $126.35 million on Aug. 03, 2013. It registered an increase in current ratio to 2.54 as at Aug. 02, 2014 from 2.39 on Aug. 03, 2013.
Shares of the company gained $1.12 or 5.49 percent to settle at $21.53 on Tuesday.