Citi Trends

Citi Trends Announces Fourth Quarter and Fiscal 2023 Results

Retrieved on: 
Tuesday, March 19, 2024
Footwear, Fashion, Retail, Jewelry, Other Retail, Home Goods, Department Stores, Growth, Face, EPS, Citi Trends, African Americans, CTRN, GAAP, Share repurchase, Marketing, Total, Video game

Our strong execution of the business across our strategic priorities fueled our performance throughout the quarter.

Key Points: 
  • Our strong execution of the business across our strategic priorities fueled our performance throughout the quarter.
  • Midway through the first quarter, we are encouraged by our positive comp results and sequential improvement versus prior quarters driven by traffic growth and strong conversion.
  • At the end of fiscal 2023, $50.0 million remained available under the Company’s share repurchase program.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, cititrends.com, under the Investor Relations section, beginning today at 9:00 a.m.

Citi Trends Sets Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

Retrieved on: 
Tuesday, March 5, 2024
Fashion, Retail, Discount, Variety, Other Retail, Home Goods, Specialty, Citi Trends, CTRN

Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the fourth quarter and full year 2023 before the market opens on Tuesday, March 19, 2024.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the fourth quarter and full year 2023 before the market opens on Tuesday, March 19, 2024.
  • Citi Trends will host a conference call on the same day at 9:00 a.m.
  • A telephonic replay of the conference call will be available until March 28, 2023, by dialing (800) 633-8284 and entering the passcode, 22029021.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com , under the Investor Relations section, on March 19, 2024, beginning at 9:00 a.m.

Citi Trends Announces Refresh of Board of Directors

Retrieved on: 
Thursday, February 29, 2024
Online Retail, Fashion, Other Retail, Retail, Department Stores, African Americans, Citi Trends, CTRN, Annual general meeting, Committee on Finance, Audit committee, Compensated emancipation, Citigroup, Investment, Agreement

Incumbent directors Brian Carney, Laurens Goff and Christina Francis will retire from the Board immediately following the 2024 Annual Meeting.

Key Points: 
  • Incumbent directors Brian Carney, Laurens Goff and Christina Francis will retire from the Board immediately following the 2024 Annual Meeting.
  • The Board will remain capped at nine directors for the duration of the Agreement.
  • On behalf of the entire Board, I want to express my sincere gratitude to Brian, Laurens and Christina for their distinguished service and long-standing commitment to Citi Trends.
  • We believe the expertise provided by our new designees will help drive operational improvements and enhance Citi Trends’ plans for maximizing stockholder value."

Rap Snacks Celebrates 30 Years, Announces Global Expansion with Launches into the UK, Canada and Spain

Retrieved on: 
Tuesday, February 20, 2024
HBCU, Sam's Club, NBA, Snack, Club, Transport, Culture, CPG, Fast-moving consumer goods, Food, Clark Atlanta University, Walmart, Drink, Lil Baby, Sodexo, Citi Trends, Movement, Sam, Hip hop music, Music, Fast food

MIAMI, Feb. 20, 2024 /PRNewswire/ -- Rap Snacks, the "Official Snack Brand of Hip Hop" and one of the fastest-growing Consumer Packaged Goods (CPG) brands in the United States, has gone global by dropping its iconic flavors across the pond and abroad into the United Kingdom, Canada and Spain! Now celebrating its 30th year, the expansion of Rap Snacks, a 100% Black-owned brand, adds reach to the brand's popularity and success in the U.S. and marks a new chapter in the brand's journey to become the snack of choice for consumers worldwide.

Key Points: 
  • Over the years, Rap Snacks has grown into a cultural phenomenon, becoming the official snack brand of hip hop.
  • "This is a thrilling moment for Rap Snacks as we extend our flavor and culture to the world," adds Lindsay.
  • Another historic move for Rap Snacks happened this past October when the brand announced its venture into the world of transportation with Rap Snacks Trucking .
  • For more information on Rap Snacks and updates on its global expansion, visit www.RapSnacks.net .

Citi Trends Announces 2023 Holiday Sales Results for Quarter-to-date Through January 6, 2024

Retrieved on: 
Monday, January 8, 2024
Discount, Variety, Retail, Citi Trends, Comparable, Optimism, African Americans, CTRN, ERP

Total sales for the quarter-to-date period ending January 6, 2024 of $179.5 million compared to $181.9 million in the same period in 2022.

Key Points: 
  • Total sales for the quarter-to-date period ending January 6, 2024 of $179.5 million compared to $181.9 million in the same period in 2022.
  • Comparable store sales for the quarter-to-date period ending January 6, 2024 were down -0.3% versus the same period in 2022.
  • David Makuen, Chief Executive Officer, said, "I am pleased to report that our holiday sales were at the high end of our expectations as our Ready.
  • Importantly, our holiday sales results represent a significant trend change to the prior quarter with an improvement in comp sales performance of approximately 600 basis points."

Citi Trends Adopts Limited Duration Stockholder Rights Plan

Retrieved on: 
Wednesday, December 6, 2023
Home Goods, Fashion, Discount, Variety, Retail, Department Stores, Jefferies Group, Shareholder rights plan, Annual general meeting, Rights, Holding company, Shareholder, Citi Trends

The Rights Plan is also intended to provide the Board sufficient time to make informed judgments and take actions that are in the best interests of Citi Trends and all of its stockholders.

Key Points: 
  • The Rights Plan is also intended to provide the Board sufficient time to make informed judgments and take actions that are in the best interests of Citi Trends and all of its stockholders.
  • The Rights Plan is similar to stockholder rights plans adopted by other publicly held companies.
  • However, any owner of the relevant triggering percentage or more may not, subject to the terms of the Rights Plan, acquire any additional shares without triggering the Rights Plan.
  • The Board intends to submit the Rights Plan to stockholders for ratification at the Company’s upcoming Annual Meeting of Stockholders (the “Annual Meeting”) and to terminate the Rights Plan if the proposal to ratify the Rights Plan is not approved at that meeting.

Citi Trends Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 28, 2023
Fashion, Online Retail, Retail, Other Retail, Home Goods, Specialty, EBITDA, Citi Trends, Share repurchase, Weather, Comparable, Heart, CTRN, African Americans, Environment, P&L, Video game, Cryptocurrency

Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, today reported results for the third quarter ended October 28, 2023.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, today reported results for the third quarter ended October 28, 2023.
  • That said, our third quarter topline performance did not meet our expectations, with sales held back more than we expected by the ongoing challenging macroeconomic backdrop.
  • At the end of the third quarter of 2023, $50.0 million remained available under the Company’s share repurchase program.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, cititrends.com, under the Investor Relations section, beginning today at 9:00 a.m.

Citi Trends Sets Date for Third Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Tuesday, November 14, 2023
Fashion, Online Retail, Retail, Discount, Variety, Home Goods, Specialty, Citi Trends, CTRN

Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the third quarter 2023 before the market opens on Tuesday, November 28, 2023.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the third quarter 2023 before the market opens on Tuesday, November 28, 2023.
  • Citi Trends will host a conference call on the same day at 9:00 a.m.
  • A telephonic replay of the conference call will be available until December 5, 2023, by dialing (800) 633-8284 and entering the passcode, 22028257.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com , under the Investor Relations section, on November 28, 2023, beginning at 9:00 a.m.

Citi Trends Announces Second Quarter 2023 Results

Retrieved on: 
Tuesday, August 22, 2023
Home Goods, Online Retail, Fashion, Retail, Specialty, Acceleration, Pressure, Citi Trends, CTRN, Comparable, Family, Share repurchase, African Americans, Clothing, Video game, Cryptocurrency, Reinsurance

Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, today reported results for the second quarter ended July 29, 2023.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, today reported results for the second quarter ended July 29, 2023.
  • The quarter was highlighted by significant sequential comparable store sales acceleration from the first quarter, a strong gross margin of 38.2% and well managed expenses.
  • We are excited about our back-to-school and early Fall assortments showcased in our unique in-store experience that positions Citi Trends as a one-stop solution for trends for the entire family in their local neighborhoods.”
    In the second quarter of 2023, the Company did not repurchase any shares of its common stock.
  • At the end of the second quarter of 2023, $50.0 million remained available under the Company’s share repurchase program.

Citi Trends Announces 3rd Annual Black History Makers Grant Winners

Retrieved on: 
Tuesday, August 15, 2023
Other Consumer, Discount, Variety, Specialty, Professional Services, Home Goods, DEI (Diversity, Equity and Inclusion), Fashion, Consumer, Retail, Partnership, Citi Trends, Mission Viejo, California, CTRN, Growth, Lampley, African Americans, Auction, Interior design, KC

Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, has announced the grant winners of its 3rd Annual Black History Makers program.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, has announced the grant winners of its 3rd Annual Black History Makers program.
  • Managed by the Citi Trends CITIcares Council, which oversees change initiatives for the company’s customers and employees, the Black History Makers program increases awareness of Black-owned businesses and recognizes entrepreneurs positively impacting their communities.
  • After receiving thousands of applications, this year’s grant winners mirror past years as we celebrate wonderful people and astute operators building really special businesses.
  • The breadth and depth of black-owned enterprises in this country is staggering and Citi Trends is thrilled to be a part of their growth.