Citi Trends Announces 2024 Holiday Sales Results for Quarter-to-Date Through January 4, 2025
Citi Trends (NASDAQ: CTRN) reported strong holiday sales results for the quarter-to-date period ending January 4, 2025. The company achieved total sales of $174.4 million, compared to $169.0 million in the same period in 2023, with a notable 7.1% increase in comparable store sales.
The company's performance was driven by improvements in both traffic and basket throughout the period, reflecting positive customer response to their revised product assortment and off-price deals. Based on this holiday performance, Citi Trends expects second half sales and EBITDA to be at the high end of their previous outlook.
For the second half of Fiscal 2024, the company projects comparable store sales to be at the high end of low to mid-single digits, with gross margin around 39% and EBITDA between $1.5 million to $4 million. The company expects to end fiscal 2024 with approximately 590 stores and a year-end cash balance of $60-65 million.
Citi Trends (NASDAQ: CTRN) ha riportato risultati di vendita natalizi solidi per il periodo fino al 4 gennaio 2025. L'azienda ha raggiunto un fatturato totale di 174,4 milioni di dollari, rispetto ai 169,0 milioni di dollari nello stesso periodo del 2023, con un notevole aumento del 7,1% delle vendite nei negozi comparabili.
Le performance dell'azienda sono state sostenute da miglioramenti sia nel traffico che nel valore medio degli acquisti durante il periodo, riflettendo una risposta positiva da parte dei clienti al nuovo assortimento di prodotti e alle offerte a prezzo scontato. Sulla base di queste performance natalizie, Citi Trends si aspetta che le vendite e l'EBITDA del secondo semestre si collocano all'estremità alta delle previsioni precedenti.
Per il secondo semestre dell'anno fiscale 2024, l'azienda prevede che le vendite nei negozi comparabili si attesteranno all'estremità alta di un aumento a singole cifre basso-medio, con un margine lordo intorno al 39% e un EBITDA compreso tra i 1,5 milioni e i 4 milioni di dollari. L'azienda prevede di concludere l'anno fiscale 2024 con circa 590 negozi e un saldo di cassa a fine anno di 60-65 milioni di dollari.
Citi Trends (NASDAQ: CTRN) informó resultados de ventas fuertes durante las vacaciones para el período hasta el 4 de enero de 2025. La compañía logró ventas totales de 174.4 millones de dólares, en comparación con 169.0 millones de dólares en el mismo período de 2023, con un notable aumento del 7.1% en las ventas de tiendas comparables.
El desempeño de la compañía fue impulsado por mejoras tanto en el tráfico como en el valor de la cesta durante todo el período, reflejando una respuesta positiva de los clientes a su surtido de productos revisado y ofertas con descuento. Basado en este desempeño navideño, Citi Trends espera que las ventas y el EBITDA del segundo semestre estén en el extremo superior de sus pronósticos anteriores.
Para la segunda mitad del año fiscal 2024, la compañía proyecta que las ventas de tiendas comparables estarán en el extremo superior de cifras de un solo dígito bajo a medio, con un margen bruto alrededor del 39% y un EBITDA entre 1.5 millones y 4 millones de dólares. La empresa espera terminar el año fiscal 2024 con aproximadamente 590 tiendas y un saldo de efectivo al final del año de 60-65 millones de dólares.
Citi Trends (NASDAQ: CTRN)는 2025년 1월 4일 종료된 분기 기준으로 강력한 휴일 판매 결과를 보고했습니다. 이 회사는 총 매출 1억 7440만 달러를 달성했으며, 2023년 같은 기간과 비교하여 1억 6900만 달러에서 증가하였고, 비교 가능 매장 판매가 7.1% 증가하였습니다.
회사의 성과는 기간 동안 고객의 반응에 대한 긍정적인 반영으로 제품 조합 변경 및 할인 거래 모두에서 교통 및 장바구니 개선에 의해 촉진되었습니다. 이 휴일 실적을 바탕으로 Citi Trends는 하반기 판매 및 EBITDA가 이전 전망의 상단에 이를 것으로 예상하고 있습니다.
2024 회계연도 하반기에 대해 회사는 비교 가능한 매장 판매가 낮은 단일 디지털에서 중간 범위의 상단에 이를 것으로 예상하고, 총 이익률은 약 39%이며 EBITDA는 150만 달러에서 400만 달러 사이가 될 것으로 예상합니다. 이 회사는 2024 회계연도를 약 590개의 매장과 연말 기준으로 6000만 – 6500만 달러 현금 잔고로 마무리할 것으로 예상하고 있습니다.
Citi Trends (NASDAQ: CTRN) a rapporté des résultats de vente solides pendant les vacances pour la période se terminant le 4 janvier 2025. L'entreprise a réalisé des ventes totales de 174,4 millions de dollars, contre 169,0 millions de dollars au même période en 2023, avec une augmentation notable de 7,1% des ventes dans les magasins comparables.
Les performances de l'entreprise ont été soutenues par des améliorations tant dans le trafic que dans le panier moyen durant toute la période, reflétant une réponse positive des clients à leur assortiment de produits révisé et aux offres à prix réduit. Sur la base de ces performances des fêtes, Citi Trends s'attend à ce que les ventes et l'EBITDA de la deuxième moitié de l'année se situent à la limite supérieure de leurs prévisions précédentes.
Pour la deuxième moitié de l'exercice 2024, l'entreprise prévoit que les ventes dans les magasins comparables seront à l'extrémité haute des chiffres à un chiffre bas à moyen, avec une marge brute d'environ 39% et un EBITDA compris entre 1,5 million et 4 millions de dollars. L'entreprise s'attend à terminer l'exercice 2024 avec environ 590 magasins et un solde de trésorerie de fin d'année de 60 à 65 millions de dollars.
Citi Trends (NASDAQ: CTRN) berichtete über starke Feiertagsverkaufszahlen für den Zeitraum bis zum 4. Januar 2025. Das Unternehmen erzielte einen Gesamtumsatz von 174,4 Millionen Dollar, verglichen mit 169,0 Millionen Dollar im selben Zeitraum 2023, mit einem bemerkenswerten Anstieg der vergleichbaren Ladenverkäufe um 7,1%.
Die Leistung des Unternehmens wurde durch Verbesserungen bei der Kundenfrequenz und dem Einkaufsvolumen während des gesamten Zeitraums unterstützt, was auf eine positive Kundenreaktion auf das überarbeitete Produktangebot und die Sonderangebote hindeutet. Basierend auf dieser Feiertagsleistung erwartet Citi Trends, dass die Verkaufszahlen und das EBITDA im zweiten Halbjahr am oberen Ende ihrer vorherigen Prognosen liegen werden.
Für das zweite Halbjahr des Geschäftsjahres 2024 prognostiziert das Unternehmen, dass die vergleichbaren Ladenverkäufe im oberen Bereich von niedrigen bis mittleren einstelligen Ziffern liegen werden, mit einer Bruttomarge von etwa 39 % und einem EBITDA zwischen 1,5 Millionen und 4 Millionen Dollar. Das Unternehmen erwartet, das Geschäftsjahr 2024 mit etwa 590 Geschäften und einem Jahresendgeldbestand von 60-65 Millionen Dollar zu beenden.
- Holiday sales increased to $174.4 million from $169.0 million YoY
- Strong comparable store sales growth of 7.1%
- Improvements in both traffic and basket metrics
- Expected second half EBITDA of $1.5-4 million
- Projected Q4 EBITDA of $5-7 million
- Healthy projected year-end cash balance of $60-65 million
- Total second half sales expected to be flat to down low-single digits
- Q4 total sales projected to decline low to mid-single digits vs Q4 2023
- Store count reduction (projected 590 stores)
Insights
The holiday sales report reveals strong performance metrics with total sales reaching
The projected gross margin of
For retail investors, the company's strategic focus on the African American and multicultural market segment, coupled with improved operational execution, positions it well in the value retail sector. The store optimization strategy, resulting in approximately 590 stores by year-end, reflects prudent management of physical footprint while maintaining market presence.
The holiday performance demonstrates successful execution of Citi Trends' revised product value strategy, particularly significant in the competitive off-price retail segment. The
The company's focused approach on African American and multicultural families represents a strategic advantage in an underserved market segment. The improved traffic metrics suggest strong brand resonance and customer loyalty in their target demographic. The successful holiday season, typically accounting for a substantial portion of annual retail sales, provides momentum heading into the spring season.
Key operational improvements in supply chain speed and merchandise selection are creating a more agile retail model, important for the off-price segment where inventory management and trend-right products are critical success factors. The positive customer response to their value proposition could lead to sustained market share gains in their niche market.
Total Holiday Sales for the quarter-to-date period ending January 4, 2025 of
Quarter-to-date Fiscal 2024 comparable store sales growth of
Expects Sales and EBITDA* results for second half of Fiscal 2024 to be at the high end of previously provided outlook
Total sales for the quarter-to-date period ending January 4, 2025 of
Ken Seipel, Chief Executive Officer, said, "I am pleased to report that our holiday sales were at the high end of our expectations as our revised product assortment, including exciting off-price deals, resonated well with the families we serve. Importantly, our
Mr. Seipel continued, "I would like to thank the entire Citi Trends team for their continued hard work and dedication throughout the holiday season. Retail is a team sport, depending on all areas to execute well to delight our customers. From the merchants who selected trendy styles at amazing prices, to the supply chain team who moved the goods at increased speed, to our store teams who once again amazed our loyal customers, the Citi Trends team was ready for holiday like never before. My belief in the Company’s potential to deliver much improved financial results remains strong and we will continue to refine and improve our team-based execution as we look forward to the Spring selling season."
Second Half 2024 Outlook
The Company is reaffirming its previously provided outlook for the second half of Fiscal 2024 as follows:
- Expecting second half comparable store sales to be on the high end of the range of up low to mid-single digits compared to the second half of fiscal 2023; total sales expected to be flat to down low-single digits due to the 53rd week last year and store closures
-
Second half gross margin is expected to be approximately
39% -
Second half EBITDA* is expected to be on the high end of the range of
$1.5 million $4 million - The Company expects to end fiscal 2024 with approximately 590 stores
-
Year-end cash balance is expected to be in the range of
$60 million $65 million -
Capital expenditures for the full year are expected to be in the range of
$14 million $18 million
The Company is also reaffirming its prior comments about the outlook for the fourth quarter of Fiscal 2024 as follows:
The Company’s implied fourth quarter comparable store sales are expected to be on the high end of the range of up low to mid-single digits with total sales down low to mid-single digits vs. Q4 2023 due to the 53rd week last year and store closures. Q4 gross margin is expected to be in the range of
ICR Conference Presentation and Webcast
As previously announced, Citi Trends is scheduled to present today at 11:30 a.m. Eastern Time at the 2025 ICR Conference. The audio portion of the event will be webcast live and can be accessed, along with the corresponding slide presentation, on the Company’s website, cititrends.com, under the Investor Relations section, beginning today at 11:30 a.m. ET. An online archive will be available for a period of 90 days following the presentation.
About Citi Trends
Citi Trends, Inc. is a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in
*Non-GAAP Financial Measures
The Company is unable to provide a full reconciliation of the forward-looking non-GAAP financial measure used in the Fiscal 2024 outlook without unreasonable effort because it is not possible to predict certain of its adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of the Company’ control and its unavailability could have a significant impact on its financial results.
Forward-Looking Statements
All statements other than historical facts contained in this news release, including statements regarding the Company’s future financial results and position, business policy and plans, objectives and expectations of management for future operations and capital allocation expectations, are forward-looking statements that are subject to material risks and uncertainties. The words "believe," "may," "could," "plans," "estimate," “expects,” "continue," "anticipate," "intend," "expect," “upcoming,” “trend” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements, although not all forward-looking statements contain such language. Statements with respect to earnings, sales or new store guidance are forward-looking statements. Investors are cautioned that any such forward-looking statements are subject to the finalization of the Company’s quarter-end financial and accounting procedures, are not guarantees of future performance or results, and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Actual results or developments may differ materially from those included in the forward-looking statements as a result of various factors which are discussed in our Annual Reports and Quarterly Reports on Forms 10-K and 10-Q, respectively, and any amendments thereto, filed with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, uncertainties relating to general economic conditions, including inflation, energy and fuel costs, unemployment levels, and any deterioration whether caused by acts of war, terrorism, political or social unrest (including any resulting store closures, damage or loss of inventory); or other factors; changes in market interest rates and market levels of wages; impacts of natural disasters such as hurricanes; uncertainty and economic impact of pandemics, epidemics or other public health emergencies such as the ongoing COVID-19 pandemic; transportation and distribution delays or interruptions; changes in freight rates; the Company’s ability to attract and retain workers; the Company’s ability to negotiate effectively the cost and purchase of merchandise inventory risks due to shifts in market demand; the Company’s ability to gauge fashion trends and changing consumer preferences; consumer confidence and changes in consumer spending patterns; competition within the industry; competition in our markets; the duration and extent of any economic stimulus programs; changes in product mix; interruptions in suppliers’ businesses; the impact of the cyber disruption we identified on January 14, 2023, including legal, reputational, financial and contractual risks resulting from the disruption, and other risks related to cybersecurity, data privacy and intellectual property; temporary changes in demand due to weather patterns; seasonality of the Company’s business; changes in market interest rates and market level wages; the results of pending or threatened litigation; delays associated with building, remodeling, opening and operating new stores; and delays associated with building, and opening or expanding new or existing distribution centers. Any forward-looking statements by the Company, with respect to guidance, the repurchase of shares pursuant to a share repurchase program, or otherwise, are intended to speak only as of the date such statements are made. Except as required by applicable law, including the securities laws of
View source version on businesswire.com: https://www.businesswire.com/news/home/20250113845180/en/
Tom Filandro
ICR, Inc.
CitiTrendsIR@icrinc.com
Source: Citi Trends, Inc.
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