Citi Trends Stock Price, News & Analysis

Citi Trends, Inc. (NASDAQ: CTRN) reported Q4 2022 sales of $209.5 million, down 13.1% from Q4 2021. Gross margin was 39.5%, slightly lower than previous years. Diluted EPS fell to $0.81, compared to $1.16 in Q4 2021. For the full year, total sales reached $795.0 million, a 19.8% decline from 2021, with a diluted EPS of $7.17. The company ended 2022 with $103.5 million in cash and no debt. Looking ahead, Citi Trends expects Q1 2023 sales to decline by low double digits and plans to open 5 to 10 new stores while closing underperforming locations.

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.