Citi Trends, Inc. - CTRN STOCK NEWS

Citi Trends, Inc. (NASDAQ: CTRN), a specialty retailer catering to African American and Latinx families, will participate in the Wells Fargo 4th Annual Consumer Conference in Dana Point, CA. On Thursday, September 23, 2021, CEO David Makuen and VP of Finance Jason Moschner will engage in a live fireside chat starting at 12:20 p.m. ET. Investors can access the live webcast and replay on the company’s website for one year. Citi Trends operates 591 stores across 33 states, focusing on affordable apparel, accessories, and home trends.

Citi Trends (CTRN) reported strong Q2 2021 results with total sales of $237.3 million, marking a 29.8% increase over Q2 2019. Comparable store sales rose 25.6%, and gross margin improved to 40.8%, up 350 bps. Operating income reached $16.4 million (operating margin 6.9%), while net income was $12.5 million with earnings per share at $1.36. The company authorized a new $30 million share repurchase program and raised its full-year sales outlook to approximately $1 billion, projecting diluted EPS of $6.30 to $6.50.

Citi Trends, Inc. (NASDAQ: CTRN) will release its Q2 2021 earnings on August 24, 2021, before market opening. A conference call is scheduled for the same day at 9:00 a.m. ET, accessible by calling (303) 223-0120. A replay will be available until August 31, 2021, via (402) 977-9140 with passcode 21996408. The call will also be streamed live on the company’s website under the Investor Relations section. This session may include discussions on recent business developments and undisclosed financial trends.

Citi Trends, Inc. (NASDAQ: CTRN) has announced the winners of its Black History Makers program, launched to support Black entrepreneurs with ten $5,000 grants. This initiative aims to enhance awareness of Black-owned businesses and follows the establishment of the CITIcares Council, which manages community initiatives. Additionally, the company introduced the CITIcares Small Business Academy, offering free educational sessions in collaboration with Seyfarth. The program aims to empower Black business owners through guidance and resources.

Citi Trends, Inc. (NASDAQ: CTRN) announced a new $30 million share repurchase program, funded from its cash reserves. The decision follows a record first quarter in 2021, enhancing the company's capital allocation strategy that includes store growth and infrastructure investments. CEO David Makuen emphasized the company's strong cash flow, healthy balance sheet, and absence of debt, showcasing confidence in sustained growth and returning value to shareholders. In fiscal 2021, the company repurchased approximately 623,000 shares for about $53.6 million, leaving $1.7 million under a previous program.

Citi Trends, Inc. (NASDAQ: CTRN) reported remarkable first-quarter results for the period ending May 1, 2021, with total sales soaring by 145.8% to $285.4 million compared to $116.1 million in Q1 2020. Comparable store sales surged 142.0%, marking the seventh consecutive quarter of growth. Gross margin improved by 1,530 bps to 42.6%.

The company achieved an operating income of $39.0 million compared to a loss of $27.6 million in Q1 2020. Net income reached $30.9 million, while earnings per diluted share were $3.23. The company also repurchased approximately 537,500 shares for about $45.5 million and raised its full-year sales guidance to $970-$990 million.

Citi Trends, Inc. (NASDAQ: CTRN) is set to announce its Q1 2021 earnings before the market opens on May 25, 2021. A conference call will follow at 9:00 a.m. ET, where financial developments may be discussed. Investors can call in to participate or listen online from the company's Investor Relations page. The conference call will include insights into business trends post-quarter-end and will be available for replay until June 1, 2021. The company operates 584 stores across 33 states, focusing on affordable apparel and home products for African American and Latinx families.

Citi Trends, Inc. (NASDAQ: CTRN) reported a robust business update, with total sales for Q1 2021 increasing by 77.2% year-over-year and 36.3% compared to Q1 2019, driven by strong customer loyalty and effective merchandise assortment. Comparable store sales rose 74.5% versus 2020. The company anticipates Q1 earnings per share between $2.75 and $2.90, forecasting total sales of $280 to $285 million. Despite positive performance, management cautioned about future uncertainties and volatility in the retail environment.

Citi Trends, Inc. (CTRN) reported a strong fourth quarter ending January 30, 2021, with total sales rising 19.4% to $251.9 million, and comparable store sales increasing 16.7%. The gross margin improved to 42.7%, up 300 bps year-over-year. Operating income surged 110.6% to $23.7 million, with earnings per diluted share at $1.81. Despite COVID-19 impacts, the fiscal year sales totaled $783.3 million. The company plans to open at least 30 new stores in 2021, targeting total sales of $870 million to $900 million and an EPS range of $2.85 to $3.05.