UPDATE: Citi Trends Tops Q4 Views, Shares Rise

Citi Trends Inc. CTRN reported stronger-than-expected results for the fourth quarter. The Savannah, Georgia-based company reported a quarterly profit of $4.67 million, or $0.31 per share, versus a year-ago profit of $1.47 million, or $0.10 per share. Its total sales increased 15.2% to $181.1 million from $157.2 million. However, analysts were expecting earnings of $0.25 per share on revenue of $174.6 million. Its same-stores sales climbed 13.9% in the same period. During fiscal 2014, Citi Trends opened 8 stores, relocated or expanded 6 others, and closed 2 stores. Citi Trends announced the retirement of Ed Anderson as CEO, effective March 21, 2015. The company named Jason Mazzola as new President and CEO. Citi Trends shares gained 2.16% to $27.00 in pre-market trading.