Sales, profit decline at Citi Trends

Growth at Citi Trends Inc. seems to be slowing, as the retailer reported a drop in comps and profit in the fourth quarter.

For the fourth quarter ended Jan. 30, total sales decreased 2.8% to $176.1 million compared with $181.1 million in Q4 of 2015. Same store sales decreased 5%.Net income was $3.5 million, or 24 cents per diluted share, compared with $4.7 million, or 31 cents per diluted share, in last year’s fourth quarter.

For the full year, total salesincreased 1.9% to $683.8 million compared with $670.8 million in 2015. Same store sales decreased 0.1% for the full year.Net income was $15.5 million, or $1.03 per diluted share, in fiscal 2015 compared with $9 million, or 60 cents per diluted share, in fiscal 2014.

The company says it opened 13 stores, relocated or expanded 13 others, and closed three stores in fiscal 2015.

Citi Trends Inc. operates 526 stores located in 31 states.