Welcome to our dedicated page for Citi Trends news (Ticker: CTRN), a resource for investors and traders seeking the latest updates and insights on Citi Trends stock.
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 reported Q1 2022 total sales of $208 million, down 27% from Q1 2021, but up 1.6% compared to Q1 2019. Comparable store sales decreased 29.2% year-over-year, reflecting a strong 5.8% positive stack since Q1 2021. The gross margin was 39.0%, and diluted EPS stood at $3.59, with adjusted diluted EPS at $0.42 surpassing expectations. The company completed a $46 million sale-leaseback transaction and anticipates 2022 sales guidance of $860-$880 million, with diluted EPS projected between $5.59 and $6.09.
Citi Trends, Inc. (NASDAQ: CTRN) has awarded $5,000 grants to ten Black business owners through its second Annual Black History Makers program. The initiative aims to boost awareness of Black-owned enterprises and positive community impacts. Over 9,000 applicants were considered, with winners including Lena Vann and Terrance Cecil. CEO David Makuen praised the program's reach and expressed excitement for its future growth. Citi Trends operates 614 stores across 33 states, providing apparel and home goods tailored for African American and Latinx families.
Citi Trends, Inc. (NASDAQ: CTRN) is set to release its first quarter 2022 earnings before the market opens on May 24, 2022. A conference call will occur on the same day at 9:00 a.m. ET, accessible at (303) 223-0118. A replay will be available until May 31, 2022. The call will cover business and financial developments post-quarter-end. Citi Trends operates 614 stores across 33 states, focusing on value retail for African American and Latinx families in the U.S. More details can be found at www.cititrends.com.
Macellum Private Capital has launched, focusing on investing in Black- and minority-owned businesses in the consumer and retail sectors. The firm highlights a $1 trillion market opportunity, addressing historical capital access challenges for these businesses. It aims to provide strategic resources through partnerships with established firms like G-III Apparel Group (NASDAQ: GIII) and Citi Trends (NASDAQ: CTRN). The investment team consists of seasoned professionals, led by Managing Partner Daniel Balzora, and aims to support growth and wealth sustainability within minority communities.
Citi Trends (CTRN) reported Q4 2021 total sales of $241 million, a 14.2% increase compared to Q4 2019, with gross margins at 40.4%. Earnings per diluted share rose to $1.16 from $0.84 in Q4 2019. For fiscal 2021, total sales reached $991.6 million, up 26.8% versus 2019. The company plans to open 35 new stores and remodel 50 stores in fiscal 2022, despite anticipating a 25-30% decline in Q1 sales due to previous stimulus effects. A sale-leaseback agreement for its distribution center will generate additional liquidity.
Citi Trends, Inc. (CTRN) is set to release its fourth-quarter earnings on March 15, 2022, before market opening. A conference call will follow at 9:00 a.m. ET to discuss financial developments. Interested parties can join the call by dialing (212) 231-2906. A replay will be available until March 22, 2022. Citi Trends, a specialty value retailer for African American and Latinx families, operates 610 stores across 33 states.
Citi Trends, Inc. (NASDAQ: CTRN) reported a 20.1% increase in sales during the nine-week holiday period ending January 1, 2022, reaching
Citi Trends, Inc. (NASDAQ: CTRN) announced its participation in the 2022 ICR Conference on January 10, 2022, at 9:30 a.m. ET. CEOs and executives David Makuen, Lisa Powell, and Jason Moschner will represent the company. A live webcast of their presentation will be available on cititrends.com under Investor Relations, and an archived version will be accessible three hours post-event. The company will also release its nine-week holiday sales results on the same date before market opening.
Citi Trends (CTRN) reported a strong third quarter for fiscal 2021, with total sales of $228 million, a 24.5% increase compared to Q3 2019. Comparable store sales rose 19.7%, and gross margin improved to 40.3%, up 290 bps. Earnings per diluted share reached $1.03, contrasting with a loss of ($0.09) in Q3 2019. The company raised its full-year earnings guidance to $6.95 to $7.10. Additionally, a new $30 million share repurchase program was approved. The outlook for Q4 anticipates high teens growth in comparable store sales compared to Q4 2019.
Citi Trends, Inc. (NASDAQ: CTRN) is set to release its third-quarter earnings report on November 30, 2021, before market opening. Following the earnings release, a conference call will be held at 9:00 a.m. ET to discuss financial developments and trends. Participants can access the call by dialing (303) 223-0117, with a replay available until December 7, 2021. The event can also be streamed live through the company’s website, and a replay will be accessible for a year thereafter.
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