Urban apparel retailer Citi Trends (CTRN -9.3%) trades lower after its Q2 loss widened sharply,...

|About: Citi Trends, Inc. (CTRN)|By:, SA News Editor

Urban apparel retailer Citi Trends (CTRN -9.3%) trades lower after its Q2 loss widened sharply, hit by slumping sales and heavy markdowns. Same-store sales dropped 12%, deeper than analysts' expectations for 11%. Not surprisingly, the company lowers FY11 guidance and cuts back on new store openings.