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. reports news as an off-price value retailer of apparel, accessories, footwear and home trends primarily serving Black families in the United States. Company updates commonly cover comparable-store sales, holiday selling results, merchandise assortment changes, gross margin, SG&A leverage and operational execution across its store base.
Recurring announcements also include quarterly earnings releases, conference presentations, investor communications and governance developments such as board composition, committee leadership and shareholder-related cooperation agreements.
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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.
Total sales for the nine weeks ending December 31, 2022 reached $171.9 million, marking a 16.1% decrease from $204.8 million in the same period of 2021. However, it shows a 0.8% increase from $170.5 million in 2019. The projected EPS for Q4 2022 is between $0.78 and $0.86, with the second half of Fiscal 2022 estimated at $3.80 to $3.88.
Year-end cash balance is expected to be approximately $95 million to $105 million.
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.
Citi Trends, Inc. (NASDAQ: CTRN) will announce its second quarter earnings on August 24, 2022, prior to market opening. A conference call is scheduled for 9:00 a.m. ET on the same day, with a live broadcast available on the company's website. A replay of the call will be accessible until August 30, 2022. The conference may include discussions on unannounced business and financial developments.
Citi Trends operates 617 stores across 33 states, focusing on apparel and home trends for African American and Latinx families.
Citi Trends, Inc. (NASDAQ: CTRN) has appointed Heather Plutino as Chief Financial Officer, effective June 27, 2022. Plutino joins from Bed Bath & Beyond, bringing extensive experience in finance from roles at Sally Beauty Holdings and Target Corporation. CEO David Makuen expressed enthusiasm for her potential contribution to the company's strategic growth and financial performance, particularly in serving the needs of African American and Latinx families. The company operates 615 stores across 33 states.
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.