Citi Trends Stock Price, News & Analysis

Citi Trends, Inc. (NASDAQ: CTRN) is set to announce its Q1 2021 earnings before the market opens on May 25, 2021. A conference call will follow at 9:00 a.m. ET, where financial developments may be discussed. Investors can call in to participate or listen online from the company's Investor Relations page. The conference call will include insights into business trends post-quarter-end and will be available for replay until June 1, 2021. The company operates 584 stores across 33 states, focusing on affordable apparel and home products for African American and Latinx families.

Citi Trends, Inc. (NASDAQ: CTRN) reported a robust business update, with total sales for Q1 2021 increasing by 77.2% year-over-year and 36.3% compared to Q1 2019, driven by strong customer loyalty and effective merchandise assortment. Comparable store sales rose 74.5% versus 2020. The company anticipates Q1 earnings per share between $2.75 and $2.90, forecasting total sales of $280 to $285 million. Despite positive performance, management cautioned about future uncertainties and volatility in the retail environment.

Citi Trends, Inc. (CTRN) reported a strong fourth quarter ending January 30, 2021, with total sales rising 19.4% to $251.9 million, and comparable store sales increasing 16.7%. The gross margin improved to 42.7%, up 300 bps year-over-year. Operating income surged 110.6% to $23.7 million, with earnings per diluted share at $1.81. Despite COVID-19 impacts, the fiscal year sales totaled $783.3 million. The company plans to open at least 30 new stores in 2021, targeting total sales of $870 million to $900 million and an EPS range of $2.85 to $3.05.

Citi Trends, Inc. (NASDAQ: CTRN) plans to release its earnings for Q4 and full year 2020 on March 16, 2021, before market open. A conference call will follow at 9:00 a.m. ET, where the company may discuss post-quarter developments. Interested parties can listen via telephone at (212) 231-2935 or through the company's website. A replay of the call will be available until March 23, 2021. Citi Trends operates 585 stores across 33 states, serving primarily African American and Latinx families.

Citi Trends, Inc. (NASDAQ: CTRN) reported a strong fourth quarter and full year 2020 financial update. Fourth quarter sales rose by 19.4% to $251.9 million, with comparable store sales up 16.7%. Full year sales are expected to slightly exceed 2019 levels despite store closures due to COVID-19. The company anticipates diluted earnings per share of $1.71 to $1.76 for Q4, significantly higher than $0.84 in Q4 2019, and $2.22 to $2.27 for the full year, up from $1.41.

The company is also expanding its capital return program, repurchasing 395,000 shares for $16.7 million.

Citi Trends, Inc. (NASDAQ: CTRN) has launched its Black History Makers program to support Black entrepreneurs during Black History Month. The initiative offers ten $5,000 grants to qualified applicants to help grow their businesses. Managed by the CITIcares Council, the program aims to raise awareness about Black-owned businesses. CEO David Makuen emphasized the importance of providing opportunities for aspiring entrepreneurs. The program will also feature in-store displays and educational content spotlighting notable Black entrepreneurs.

Citi Trends, Inc. (NASDAQ: CTRN) reported impressive sales figures for the holiday period ending January 2, 2021. Total sales rose by 12.9% to $192.5 million, while comparable store sales improved by 10.3% compared to 3.6% last year. The CEO noted strong gross and operating margin expansion driven by effective merchandising strategies. For Q4 2020, the company anticipates positive comparable store sales in the low double-digit range and diluted earnings per share of $1.22 to $1.32, up from $0.88 in 2019. A capital return program continues with share repurchases totaling 316,000 shares for $11.9 million.

Citi Trends, Inc. (NASDAQ: CTRN), a prominent value retailer, announced its presentation at the 2021 ICR Conference on January 12, 2021 at 1:30 p.m. EST. The company will be represented by key executives including CEO David Makuen and CFO Pamela Edwards. A live webcast will be available on www.cititrends.com, with an archived replay accessible after the event. Additionally, Citi Trends plans to release its holiday sales results on the same day before the market opens.

Citi Trends, Inc. (NASDAQ: CTRN) has authorized a new $30 million share repurchase program, demonstrating confidence in its business amidst a low-single digit sales increase expected during the holiday season. Funding for the new repurchase initiative will be sourced from cash on hand. Additionally, the previous $30 million share repurchase program has seen the company buy back 618,796 shares for approximately $18.1 million, with $11.9 million left under that authorization. The company operates 585 stores across 33 states, focusing primarily on value-priced apparel and accessories.