STOCK TITAN

Citi Trends, Inc. - $CTRN STOCK NEWS

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.

Rhea-AI Summary

Citi Trends (NASDAQ: CTRN) reported its Q1 Fiscal 2024 results, showing a 3.7% year-over-year (YoY) increase in total sales to $186.3 million and a 3.1% rise in comparable store sales.

Gross margin expanded to 38.7% from 36.7% YoY. The company noted an operating loss of $7.0 million, improved from last year's loss of $9.5 million. Adjusted EBITDA loss stood at $0.8 million versus $3.2 million in Q1 2023.

Net loss per share was ($0.42), compared to ($0.81) YoY. The firm closed 3 stores while remodeling 20, ending the quarter with 599 locations and an inventory increase of 4% YoY.

Cash reserves were $58.2 million with no debt, and the company did not repurchase any shares during the quarter. Citi Trends reiterated its EBITDA outlook for Fiscal 2024 and aims to remodel 40 stores while closing 10-15 underperforming locations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.53%
Tags
-
Rhea-AI Summary

Citi Trends has appointed Ken Seipel as interim CEO effective June 2, 2024, following David Makuen's resignation as CEO and board member. Seipel, a veteran in the retail sector, has a track record of successful turnarounds. Makuen will stay temporarily as a Senior Advisor. The Board is now searching for a permanent CEO, considering both internal and external candidates. Preliminary Q1 2024 results show total sales of $186.3 million, a 3.1% growth in comparable sales, and an EBITDA loss of $0.8 million. The company plans to detail these results further in an investor call on June 4, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
management
-
Rhea-AI Summary

Citi Trends (NASDAQ: CTRN) announced it will release its first quarter 2024 earnings on June 4, 2024, before the market opens. A conference call will follow the earnings release at 9:00 a.m. ET the same day. Investors can access the live broadcast online via the company's website, or by dialing 1-877-407-0779. An online replay will be available for one year.

During the conference call, Citi Trends may discuss recent business and financial developments that have occurred since the quarter-end. Citi Trends is a specialty value retailer with 599 stores in 33 states, primarily serving African American and multicultural families in the U.S.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.07%
Tags
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) reported Q4 2023 total sales of $215.2 million with a gross margin of 39.1% and diluted EPS of $0.42. Fiscal 2023 total sales were $747.9 million. The company ended Fiscal 2023 with $155 million of liquidity. The outlook for Fiscal 2024 includes mid-single digit comp increase.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.32%
Tags
-
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) announced the upcoming release of its Q4 and full-year 2023 earnings on March 19, 2024. A conference call will be held at 9:00 a.m. ET the same day. Details for accessing the call and online broadcast are provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.26%
Tags
-
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) announces a cooperation agreement with Fund 1 Investments, nominating three new independent directors for election to the Board of Directors at the 2024 Annual Meeting. The Agreement includes a standstill and voting commitment by Fund 1. The new directors bring retail and supply chain expertise to enhance stockholder value and meet customer needs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.53%
Tags
management
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) reported total holiday sales for the quarter-to-date period ending January 6, 2024, of $179.5 million, which was at the high end of expectations. Comparable store sales decreased by -0.3% compared to Fiscal 2022, representing a significant trend improvement. The company also reaffirmed its 2023 guidance, including an expected year-end cash balance of $80 million to $90 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.41%
Tags
none
-
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) has adopted a limited duration stockholder rights plan to protect stockholders from any entity gaining control without paying an appropriate control premium. The plan is not a response to any specific takeover bid and is similar to plans adopted by other publicly held companies. The Rights Plan expires on December 4, 2024, unless earlier redeemed, exchanged, or amended.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.83%
Tags
none
-
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) reported third quarter sales of $179.5 million, a 6.7% decrease from Q3 2022, with a gross margin of 38.2%. Year-to-date total sales were $532.8 million, a 9.0% decrease from 2022, with a gross margin of 37.7%. The company experienced an operating loss of $6.0 million in Q3 2023 and $23.4 million for the 39 weeks ended October 28, 2023. The net loss per share was $0.47 for Q3 2023 and $1.89 for the 39 weeks ended October 28, 2023. The company's liquidity stands at $135 million with no debt. Citi Trends updated its fiscal 2023 guidance, expecting full year total sales to be down mid-single digits compared to fiscal 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.05%
Tags
Rhea-AI Summary
Citi Trends, Inc. (NASDAQ: CTRN) announced plans to release its Q3 2023 earnings before the market opens on November 28, 2023. The company will host a conference call at 9:00 a.m. ET on the same day, discussing business and financial developments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.86%
Tags

FAQ

What is Citi Trends, Inc.?

Citi Trends, Inc. (CTRN) is a value-priced retailer offering urban fashion apparel, shoes, accessories, and home décor for the entire family.

When did Citi Trends become a publicly traded company?

Citi Trends became a publicly traded company in May 2005 on the NASDAQ exchange under the symbol CTRN.

Where is Citi Trends headquartered?

Citi Trends is headquartered in Savannah, Georgia.

How many stores does Citi Trends operate?

Citi Trends operates 515 stores across 31 states.

What types of products does Citi Trends offer?

Citi Trends offers fashion sportswear for men, women, and children, as well as accessories, home décor, beauty products, books, and toys.

Who are Citi Trends' primary customers?

Citi Trends caters to fashion-conscious and value-driven consumers looking for nationally recognized brands at discounted prices.

How does Citi Trends source its merchandise?

Citi Trends sources its merchandise from over 1,600 vendors to ensure quality products at outstanding value.

What are Citi Trends' distribution centers located?

Citi Trends has distribution centers in Darlington, South Carolina, and Roland, Oklahoma.

What recent achievements has Citi Trends made?

Citi Trends has expanded its store footprint and product range, continually enhancing customer satisfaction and maintaining a competitive edge.

How many people does Citi Trends employ?

Citi Trends employs approximately 4,500 people.

Citi Trends, Inc.

Nasdaq:CTRN

CTRN Rankings

CTRN Stock Data

183.88M
6.17M
5.2%
102.19%
13.17%
Clothing Accessories Stores
Retail Trade
Link
United States of America
SAVANNAH