Citi Trends - CTRN STOCK NEWS

Citi Trends (NASDAQ: CTRN) reported its Q4 and fiscal 2024 results, showing mixed performance. Q4 2024 delivered total sales of $211.2 million with a 6.4% comparable store sales growth, though total sales decreased 1.9% compared to Q4 2023. Gross margin improved to 39.7%, up 60 basis points from Q4 2023.

For full-year 2024, the company reported total sales of $753.1 million, a 0.7% increase, with comparable store sales up 3.4%. However, the company posted a net loss of $(43.2) million. Year-end inventory decreased 6.0% with average in-store inventory down 6.7%.

Looking ahead to fiscal 2025, Citi Trends expects low to mid-single digit comparable store sales growth, gross margin expansion of at least 220 basis points, and EBITDA between $5-9 million. The company plans to open up to 5 new stores, remodel approximately 50 stores, and close up to 5 locations.

Citi Trends (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends, has scheduled its fourth quarter and full year 2024 earnings release for Tuesday, March 18, 2025, before market opening.

The company will host a conference call at 9:00 a.m. ET on the same day, which will be accessible through their website www.cititrends.com under the Investor Relations section. Investors can also join via phone by dialing 1-877-407-0779.

Currently operating 591 stores across 33 states, Citi Trends primarily serves African American and multicultural families in the United States. The earnings call will address business developments, financial trends, and include a Q&A session for post-quarter updates.

Citi Trends (NASDAQ: CTRN) reported strong holiday sales results for the quarter-to-date period ending January 4, 2025. The company achieved total sales of $174.4 million, compared to $169.0 million in the same period in 2023, with a notable 7.1% increase in comparable store sales.

The company's performance was driven by improvements in both traffic and basket throughout the period, reflecting positive customer response to their revised product assortment and off-price deals. Based on this holiday performance, Citi Trends expects second half sales and EBITDA to be at the high end of their previous outlook.

For the second half of Fiscal 2024, the company projects comparable store sales to be at the high end of low to mid-single digits, with gross margin around 39% and EBITDA between $1.5 million to $4 million. The company expects to end fiscal 2024 with approximately 590 stores and a year-end cash balance of $60-65 million.

Citi Trends (NASDAQ: CTRN), a specialty value retailer focusing on African American and multicultural families, has announced its participation in the 2025 ICR Conference. The presentation is scheduled for Monday, January 13, 2025, at 11:30 a.m. ET.

Chief Executive Officer Ken Seipel and Chief Financial Officer Heather Plutino will represent the company at the conference. Investors and interested parties can access a live webcast of the presentation through the Investor Relations section of cititrends.com, with the recording remaining available online for 90 days afterward.

The company currently operates 592 stores across 33 states, specializing in apparel, accessories, and home trends at value prices for their target demographic.

Citi Trends (NASDAQ: CTRN) reported Q3 2024 results with total sales of $179.1 million, showing a 0.3% decrease from Q3 2023, while comparable store sales grew 5.7%. The company achieved gross margin expansion of 160 basis points to 39.8%. Despite posting a net loss of $(7.2) million, the company maintains a strong financial position with $38.9 million in cash and no debt. Based on strong early holiday performance, Citi Trends raised its second-half fiscal 2024 outlook, expecting low to mid-single-digit comparable store sales growth and EBITDA between $1.5-4 million.

Citi Trends has appointed Ken Seipel as permanent CEO, effective November 18, 2024, following his interim role since June 2024. The company reported preliminary Q3 2024 results with sales of $179.1 million and comparable store sales growth of 5.7% versus Q3 2023, exceeding previous guidance. Gross margin improved to 39.8%, up 160 basis points from Q3 2023, driven by improved product, better allocation methods, and increased customer traffic. Q3 2024 Adjusted EBITDA showed a loss of $3.3 million, including strategic costs for customer research and operational improvements.

Citi Trends (NASDAQ: CTRN) has announced it will release its third quarter 2024 earnings before market opens on Tuesday, December 3, 2024. The company will host a conference call at 9:00 a.m. ET on the same day, accessible via their website www.cititrends.com under the Investor Relations section or by dialing 1-877-407-0779. The online replay will be available for one year. Citi Trends operates 592 stores across 33 states as a specialty value retailer of apparel, accessories and home trends, primarily serving African American and multicultural families.

Citi Trends (NASDAQ: CTRN) reported Q2 fiscal 2024 results with total sales growth of 1.7% to $176.6 million. However, the company faced challenges, including a net loss of $18.4 million and a comparable store sales decrease of 1.7%. Key actions taken include:

1. Strategic inventory reset with $9.4 million in markdowns
2. Efforts to control shrink, resulting in a $4.0 million adjustment
3. Implementation of a refined merchandise strategy

Despite challenges, Citi Trends maintains a strong financial position with $59.3 million in cash and no debt. The company expects second-half comparable store sales to be flat to up low-single digits, with gross margin around 39% and positive EBITDA between $0.5-$2.5 million.

Citi Trends (NASDAQ: CTRN) has announced plans to release its second quarter 2024 earnings before the market opens on Tuesday, August 27, 2024. The company will host a conference call at 9:00 a.m. ET on the same day. Investors can access the live broadcast online at www.cititrends.com under the Investor Relations section or dial in at 1-877-407-0779. The online replay will be available for one year. During the call, Citi Trends may discuss post-quarter-end business and financial developments. Citi Trends is a leading specialty value retailer of apparel, accessories, and home trends, primarily serving African American and multicultural families in the United States. The company currently operates 597 stores across 33 states.