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, 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.
Citi Trends, Inc. (NASDAQ: CTRN) plans to release its earnings for Q4 and full year 2020 on March 16, 2021, before market open. A conference call will follow at 9:00 a.m. ET, where the company may discuss post-quarter developments. Interested parties can listen via telephone at (212) 231-2935 or through the company's website. A replay of the call will be available until March 23, 2021. Citi Trends operates 585 stores across 33 states, serving primarily African American and Latinx families.
Citi Trends, Inc. (NASDAQ: CTRN) reported a strong fourth quarter and full year 2020 financial update. Fourth quarter sales rose by 19.4% to $251.9 million, with comparable store sales up 16.7%. Full year sales are expected to slightly exceed 2019 levels despite store closures due to COVID-19. The company anticipates diluted earnings per share of $1.71 to $1.76 for Q4, significantly higher than $0.84 in Q4 2019, and $2.22 to $2.27 for the full year, up from $1.41.
The company is also expanding its capital return program, repurchasing 395,000 shares for $16.7 million.
Citi Trends, Inc. (NASDAQ: CTRN) has launched its Black History Makers program to support Black entrepreneurs during Black History Month. The initiative offers ten $5,000 grants to qualified applicants to help grow their businesses. Managed by the CITIcares Council, the program aims to raise awareness about Black-owned businesses. CEO David Makuen emphasized the importance of providing opportunities for aspiring entrepreneurs. The program will also feature in-store displays and educational content spotlighting notable Black entrepreneurs.
Citi Trends, Inc. (NASDAQ: CTRN) reported impressive sales figures for the holiday period ending January 2, 2021. Total sales rose by 12.9% to $192.5 million, while comparable store sales improved by 10.3% compared to 3.6% last year. The CEO noted strong gross and operating margin expansion driven by effective merchandising strategies. For Q4 2020, the company anticipates positive comparable store sales in the low double-digit range and diluted earnings per share of $1.22 to $1.32, up from $0.88 in 2019. A capital return program continues with share repurchases totaling 316,000 shares for $11.9 million.
Citi Trends, Inc. (NASDAQ: CTRN), a prominent value retailer, announced its presentation at the 2021 ICR Conference on January 12, 2021 at 1:30 p.m. EST. The company will be represented by key executives including CEO David Makuen and CFO Pamela Edwards. A live webcast will be available on www.cititrends.com, with an archived replay accessible after the event. Additionally, Citi Trends plans to release its holiday sales results on the same day before the market opens.
Citi Trends, Inc. (NASDAQ: CTRN) has authorized a new $30 million share repurchase program, demonstrating confidence in its business amidst a low-single digit sales increase expected during the holiday season. Funding for the new repurchase initiative will be sourced from cash on hand. Additionally, the previous $30 million share repurchase program has seen the company buy back 618,796 shares for approximately $18.1 million, with $11.9 million left under that authorization. The company operates 585 stores across 33 states, focusing primarily on value-priced apparel and accessories.
Citi Trends reported a strong third quarter for the period ending October 31, 2020, with total sales rising 8.8% to $199.1 million compared to $183.1 million in Q3 2019. Comparable store sales increased 6.3%, marking the fifth consecutive quarter of growth. Gross margin improved by 440 basis points to 41.8%, driven by effective inventory management. Net income reached $7.0 million, a significant improvement from a loss of $1.1 million a year earlier. Despite positive results, the company conservatively estimates flat comparable store sales for Q4 2020 due to ongoing market uncertainties.
Citi Trends, Inc. (NASDAQ: CTRN) plans to release its third-quarter earnings on December 1, 2020, before the market opens. A conference call to discuss the results will occur at 9:00 a.m. ET on the same day, with a live broadcast available on the company's website. A telephonic replay will be accessible until December 8, 2020. The call may include insights on recent business and financial developments.
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