Savannah-based Citi Trends Inc. (NASDAQ:CTRN) reported Tuesday that total sales for the third quarter of fiscal 2013 that ended Nov. 2 decreased 2.4 percent to $145.4 million compared with $149.0 million in the third quarter of 2012.
Comparable store sales increased 0.6 percent in the third quarter.
The company’s net loss was $1.7 million, or $0.11 per diluted share, in the third quarter compared with a net loss of $3.7 million, or $0.25 per diluted share, a year earlier.
This year’s third quarter benefited by a pretax gain of $1.5 million when Citi Trends sold its former distribution center in Savannah.
The discount clothing and accessories retailer closed one store and relocated or expanded three others in the third quarter, resulting in a total store count of 505 at the end of the quarter.
Total sales in the first three quarters of fiscal 2013 decreased 2.9 percent to $465.0 million compared with $479.0 million in the same period of fiscal 2012.
Comparable store sales decreased 1.0 percent.
Net loss was $1.0 million, or $0.07 per diluted share, in the first three quarters of this year, compared with a net loss of $1.5 million, or $0.10 per diluted share, in last year’s first three quarters.
