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. reports news as an off-price value retailer of apparel, accessories, footwear and home trends primarily serving Black families in the United States. Company updates commonly cover comparable-store sales, holiday selling results, merchandise assortment changes, gross margin, SG&A leverage and operational execution across its store base.
Recurring announcements also include quarterly earnings releases, conference presentations, investor communications and governance developments such as board composition, committee leadership and shareholder-related cooperation agreements.
Citi Trends, Inc. (NASDAQ: CTRN) reported a 20.1% increase in sales during the nine-week holiday period ending January 1, 2022, reaching $204.8 million, compared to $170.5 million in 2019. Comparable store sales rose 14.8% versus 2019. Despite lower traffic attributed to COVID-19, the company remains optimistic, expecting fiscal 2022 total sales of $990.0 million to $995.0 million and diluted EPS between $6.70 and $6.85. Citi Trends plans to open and remodel 45 stores each in 2022.
Citi Trends, Inc. (NASDAQ: CTRN) announced its participation in the 2022 ICR Conference on January 10, 2022, at 9:30 a.m. ET. CEOs and executives David Makuen, Lisa Powell, and Jason Moschner will represent the company. A live webcast of their presentation will be available on cititrends.com under Investor Relations, and an archived version will be accessible three hours post-event. The company will also release its nine-week holiday sales results on the same date before market opening.
Citi Trends (CTRN) reported a strong third quarter for fiscal 2021, with total sales of $228 million, a 24.5% increase compared to Q3 2019. Comparable store sales rose 19.7%, and gross margin improved to 40.3%, up 290 bps. Earnings per diluted share reached $1.03, contrasting with a loss of ($0.09) in Q3 2019. The company raised its full-year earnings guidance to $6.95 to $7.10. Additionally, a new $30 million share repurchase program was approved. The outlook for Q4 anticipates high teens growth in comparable store sales compared to Q4 2019.
Citi Trends, Inc. (NASDAQ: CTRN) is set to release its third-quarter earnings report on November 30, 2021, before market opening. Following the earnings release, a conference call will be held at 9:00 a.m. ET to discuss financial developments and trends. Participants can access the call by dialing (303) 223-0117, with a replay available until December 7, 2021. The event can also be streamed live through the company’s website, and a replay will be accessible for a year thereafter.
Citi Trends (NASDAQ: CTRN) has announced the appointment of Christina Francis and Cara Sabin as new independent directors, effective October 31, 2021. This move enhances the diversity of the board, now consisting of three African American females out of seven independent directors. Their extensive backgrounds in marketing and business development are expected to enrich the board's strategic direction. Executive Chairman Peter Sachse expressed confidence in their contributions towards the company's growth and commitment to serving diverse communities.
Citi Trends, Inc. (NASDAQ: CTRN), a specialty retailer catering to African American and Latinx families, will participate in the Wells Fargo 4th Annual Consumer Conference in Dana Point, CA. On Thursday, September 23, 2021, CEO David Makuen and VP of Finance Jason Moschner will engage in a live fireside chat starting at 12:20 p.m. ET. Investors can access the live webcast and replay on the company’s website for one year. Citi Trends operates 591 stores across 33 states, focusing on affordable apparel, accessories, and home trends.
Citi Trends (CTRN) reported strong Q2 2021 results with total sales of $237.3 million, marking a 29.8% increase over Q2 2019. Comparable store sales rose 25.6%, and gross margin improved to 40.8%, up 350 bps. Operating income reached $16.4 million (operating margin 6.9%), while net income was $12.5 million with earnings per share at $1.36. The company authorized a new $30 million share repurchase program and raised its full-year sales outlook to approximately $1 billion, projecting diluted EPS of $6.30 to $6.50.
Citi Trends, Inc. (NASDAQ: CTRN) will release its Q2 2021 earnings on August 24, 2021, before market opening. A conference call is scheduled for the same day at 9:00 a.m. ET, accessible by calling (303) 223-0120. A replay will be available until August 31, 2021, via (402) 977-9140 with passcode 21996408. The call will also be streamed live on the company’s website under the Investor Relations section. This session may include discussions on recent business developments and undisclosed financial trends.
Citi Trends, Inc. (NASDAQ: CTRN) has announced the winners of its Black History Makers program, launched to support Black entrepreneurs with ten $5,000 grants. This initiative aims to enhance awareness of Black-owned businesses and follows the establishment of the CITIcares Council, which manages community initiatives. Additionally, the company introduced the CITIcares Small Business Academy, offering free educational sessions in collaboration with Seyfarth. The program aims to empower Black business owners through guidance and resources.
Citi Trends, Inc. (NASDAQ: CTRN) announced a new $30 million share repurchase program, funded from its cash reserves. The decision follows a record first quarter in 2021, enhancing the company's capital allocation strategy that includes store growth and infrastructure investments. CEO David Makuen emphasized the company's strong cash flow, healthy balance sheet, and absence of debt, showcasing confidence in sustained growth and returning value to shareholders. In fiscal 2021, the company repurchased approximately 623,000 shares for about $53.6 million, leaving $1.7 million under a previous program.