Annual revenues: $290 million
Average annual revenue growth since 2004: 36%
What does it do ?
Citi Trends buys surplus merchandise from hot hip-hop designers and
sells it at rock-bottom prices to customers most stores
ignore–cash-strapped inner-city teens. “The company has carved out a
unique niche,” says Elizabeth Anderson, a retail industry analyst with
Cower & Co. in New York City. “Citi Trends has been able to drive
growth not only by offering branded merchandise at a lower price point
but through a low-cost real estate strategy where the Big Box chains
can’t compete.” In 2005 revenues for the profitable chain shot up 42%,
and comparable-store sales grew 16%.
Looks like a very plain simple business idea , but I guess what is not available to outside world, the intense hardwork and implementation that has gone behind making it a successful venture. It goes on to iterate the point that Execution is the Killer in the “ideas are dime a dozen ” world