Citi Trends Stock Price, News & Analysis

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.

Citi Trends, Inc. (NASDAQ: CTRN) has awarded $5,000 grants to ten Black business owners through its second Annual Black History Makers program. The initiative aims to boost awareness of Black-owned enterprises and positive community impacts. Over 9,000 applicants were considered, with winners including Lena Vann and Terrance Cecil. CEO David Makuen praised the program's reach and expressed excitement for its future growth. Citi Trends operates 614 stores across 33 states, providing apparel and home goods tailored for African American and Latinx families.