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Citi Trends, Inc. (CTRN) is a prominent value-priced retailer specializing in urban fashion apparel, shoes, accessories, and home décor for the entire family. Established with a vision to cater to the tastes of fashion-forward and value-conscious consumers, Citi Trends offers nationally recognized branded merchandise at discounts ranging from 20% to 70% off regular prices found in department and specialty stores. The company sources its diverse merchandise from over 1,600 vendors, ensuring high-quality fashion products at exceptional value.
Founded in May 2005 and headquartered in Savannah, Georgia, Citi Trends became a publicly traded company on the NASDAQ exchange under the symbol CTRN. The company operates a robust network of 515 stores across 31 states, employing approximately 4,500 individuals. Its operational infrastructure includes a corporate office in Savannah, distribution centers in Darlington, South Carolina, and Roland, Oklahoma, and buying offices in New York City and Los Angeles.
With a comprehensive product lineup that includes fashion sportswear for men, women, and children, Citi Trends also offers an array of accessories such as handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear. The company further diversifies its offerings with functional and decorative home products, beauty products, books, and toys, making it a one-stop-shop for affordable urban fashion and lifestyle products.
Recent achievements highlight Citi Trends’ commitment to growth and customer satisfaction. The company has continually expanded its store footprint and enhanced its product range to better meet the evolving needs of its diverse customer base. Citi Trends’ strategic focus on offering significant discounts and maintaining strong vendor relationships has solidified its position as a key player in the retail sector.
As Citi Trends continues to evolve, it remains dedicated to delivering outstanding value and fashionable products to its customers. The company’s ongoing projects and strategic initiatives reflect its commitment to maintaining a competitive edge in the dynamic retail landscape.
Citi Trends, Inc. (NASDAQ: CTRN) reported Q4 2022 sales of $209.5 million, down 13.1% from Q4 2021. Gross margin was 39.5%, slightly lower than previous years. Diluted EPS fell to $0.81, compared to $1.16 in Q4 2021. For the full year, total sales reached $795.0 million, a 19.8% decline from 2021, with a diluted EPS of $7.17. The company ended 2022 with $103.5 million in cash and no debt. Looking ahead, Citi Trends expects Q1 2023 sales to decline by low double digits and plans to open 5 to 10 new stores while closing underperforming locations.
Citi Trends, Inc. (NASDAQ: CTRN) is set to release its fourth quarter and full year 2022 earnings on March 21, 2023, before market opening. A conference call will take place at 9:00 a.m. ET, where the company will discuss business and financial developments. Investors can access the call live by dialing (212) 231-2928, and a replay will be available until March 28, 2023, at (800) 633-8284 with passcode 22026341. The live broadcast and online replay will also be accessible through their website. Citi Trends operates 609 stores, focusing on affordable apparel and home trends for African American and Latinx families.
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Citi Trends (CTRN) reported significant third quarter results with total sales of $192.3 million, marking a 15.6% decrease from 2021 but a 5.1% increase from 2019. Comparable sales declined 18.3% year-over-year against a 19.7% increase in the same period last year. The gross margin was 39.8%, slightly down from 40.3% in Q3 2021. Net income stood at $24.6 million, with diluted earnings per share (EPS) at $3.02. The company ended the quarter with a strong cash position of $77.8 million and confirmed its guidance for the second half of 2022.
Citi Trends, Inc. (NASDAQ: CTRN) will announce its third-quarter 2022 earnings on November 29, 2022, before market opening. A conference call is scheduled for the same day at 9:00 a.m. ET, accessible at (312) 281-1210, with a replay available until December 6, 2022. The call will also be broadcast live on www.cititrends.com. The company is a leading specialty value retailer, operating 615 stores across 33 states in the U.S., catering primarily to African American and Latinx families.
Citi Trends reported second quarter sales of $185.0 million, down 22.0% from 2021 but up 1.2% from 2019. Gross margin decreased to 38.1% from 40.8% in Q2 2021. The company experienced a 24.9% drop in comparable sales compared to Q2 2021. Operating loss reached $3.3 million, contrasting with a profit of $16.4 million in the same quarter last year. Net income for the first half of 2022 was $27.7 million. The company plans to lower SG&A expenses by $10 million for the second half and has a $36 million sale-leaseback closing expected in September.
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