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. (NASDAQ: CTRN) generates a steady flow of news as an off-price value retailer of apparel, accessories and home trends primarily for African American families in the United States. This news page aggregates company press releases and other coverage so readers can follow how the retailer’s strategy and operations translate into reported results and corporate developments.
Recent Citi Trends news has focused on quarterly earnings, holiday sales performance and updates to fiscal outlook. The company regularly reports total sales, comparable store sales growth, gross margin trends, SG&A leverage, net income or loss and adjusted EBITDA, often highlighting the impact of its three-tiered merchandise assortment and strategic transformation framework. Releases also describe store remodel activity, store openings and closures, and changes in inventory levels and liquidity.
Beyond financial updates, Citi Trends issues announcements about investor conference appearances, such as presentations at the ICR Conference and the Global Consumer & Retail Conference, as well as scheduling notices for upcoming earnings releases and conference calls. The company also publishes news on community initiatives, including its Black History Makers grant program, which supports Black-owned businesses and entrepreneurs.
Visitors to this CTRN news page can review historical and recent articles covering first, second and third quarter results, holiday sales updates, guidance revisions, capital allocation actions and community-focused programs. For investors, analysts and followers of the off-price retail sector, this page offers a centralized view of how Citi Trends communicates its performance, strategic priorities and engagement with its core African American customer base over time.
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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.
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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.
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