Citi Trends has ambitious expansion plans for its store network. (AP Photo/Rogelio V. Solis, File)
Off-price retailer Citi Trends has reported double-digit sales growth and outlined plans for a significantly faster store expansion strategy as consumers continue to seek affordability amid ongoing economic uncertainty.
The retailer focuses on apparel, accessories and home products with what the company described as a “differentiated focus in the black consumer” and it delivered its 21st consecutive month of sales growth in the first quarter.
For the quarter ended May 3, Citi Trends reported sales of $230.9 million, an increase of 14.4% year over year. Comparable store sales climbed 13.9%, driven by higher customer traffic, larger basket sizes and improved merchandising initiatives.
On a two-year basis, comparable sales were up 23.8%, highlighting the sustained nature of the retailer's momentum rather than a short-term rebound.
