Citi Trends has traditionally focused on expanding in existingmarkets, but the retailer is now branching out. New areasexecutives plan to enter in the third quarter are Cleveland andareas in Florida and Texas that it had not previouslypenetrated.
The company opened three stores during the second quarter,bringing its overall store count to 253 units. For the remainder ofthe year, the chain is planning 22 to 25 new stores, making itstotal expansion plans for 2006 between 40 and 43 units, a 20% jumpin total square footage.
Same-store sales during the quarter soared up 7.3%year-over-year, on top of an 11.5% comparable increase last year'ssecond quarter. The best-selling products were accessories, up 15%,followed by home décor and men's items, both up 12%. Women'sapparel lagged, only inching up 1%.
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