Citi Trends Inc. (NASDAQ:CTRN), in its streak to optimize its financial performance, recently announced string of measures to boost its growth prospects by dipping investment in sections of the company that no longer contributes significantly to its growth.
As the quarterly loss per share in second-quarter 2011 widens 17 folds to 69 cents compared with the prior-period loss of 4 cents, the company has decided to slash 40 jobs at its stores, distribution centers and corporate office.
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