Citi Trends Stock Price, News & Analysis

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.

Citi Trends reported a strong third quarter for the period ending October 31, 2020, with total sales rising 8.8% to $199.1 million compared to $183.1 million in Q3 2019. Comparable store sales increased 6.3%, marking the fifth consecutive quarter of growth. Gross margin improved by 440 basis points to 41.8%, driven by effective inventory management. Net income reached $7.0 million, a significant improvement from a loss of $1.1 million a year earlier. Despite positive results, the company conservatively estimates flat comparable store sales for Q4 2020 due to ongoing market uncertainties.

Citi Trends, Inc. (NASDAQ: CTRN) plans to release its third-quarter earnings on December 1, 2020, before the market opens. A conference call to discuss the results will occur at 9:00 a.m. ET on the same day, with a live broadcast available on the company's website. A telephonic replay will be accessible until December 8, 2020. The call may include insights on recent business and financial developments.

Citi Trends, Inc. (NASDAQ: CTRN) has provided an update for the third quarter, reporting an expected increase of approximately 5% in comparable store sales, surpassing previous estimates. The company has repurchased around 350,000 shares under a $30 million repurchase program funded by cash on hand. Additionally, Citi Trends opened six new stores, bringing the total to 585. The announcement also includes the appointment of Pamela Edwards as Chief Financial Officer, effective January 4, 2021, who brings extensive experience from L Brands and other retailers.