---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-122632"
form_type: "8-K"
ticker: "CTRN"
cik: "0001318484"
company_name: "Citi Trends Inc"
filed_at: "2022-11-29T23:59:59+00:00"
generated_at: "2026-06-21T12:09:24.877192+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Citi Trends Q3 2022: sales dip 15.6%, comps -18.3%; adjusted EPS $0.24

## Summary
- Total sales $192.3M, -15.6% YoY; comparable sales -18.3% vs +19.7% in Q3 2021.
- Net income $24.6M ($3.02 GAAP EPS); adjusted diluted EPS $0.24.
- Gross margin 39.8% vs 40.3% in Q3 2021; SG&A deleveraged 310 bps.
- Completed $36M sale-leaseback of Roland, OK DC; cash $77.8M, no debt.
- Reiterated H2 2022 guidance: low single-digit total sales growth, gross margin high 30s-low 40s.

## SEC filing metadata
- accession: 0001104659-22-122632
- form_type: 8-K
- ticker: CTRN
- cik: 0001318484
- company_name: Citi Trends Inc
- filed_at: 2022-11-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318484/000110465922122632/0001104659-22-122632-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318484/000110465922122632/tm2231377d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-122632
- JSON: https://secwatch.observer/filing/0001104659-22-122632.json
- Plain text: https://secwatch.observer/filing/0001104659-22-122632.txt

## Key facts
- Earnings Releases
  Citi Trends Inc reported the 39 weeks ended October 29, 2022 results: revenue $585.6 million, net income $52.3 million, EPS $6.34. Guidance reaffirmed.
  - Period: the 39 weeks ended October 29, 2022
  - Revenue: $585.6 million
  - Net income: $52.3 million
  - EPS: $6.34
  - Guidance: reaffirmed
  - Result: reported results
  source text: Total sales of $585.6 million decreased 22.0% vs. 2021 and increased 2.6% vs. 2019; comparable sales decreased 24.5% compared to 2021 on top of a 26.9% increase in 2021 vs. 2019; 3 year stack of 2.4% ● Gross margin of 39.0% vs. 41.3% in 2021 and 37.4% in 2019 ● Operating income of $67.9 million, or $3.8 million as adjusted* for the gain on the sale of two distribution centers, vs. $66.9 million in 2021 and $7.3 million in 2019, or $8.3 million as adjusted* ● Net income of $52.3 million, or $2.9 million as adjusted*, vs. $52.4 million in 2021 and $7.1 million in 2019, or $8.0 million as adjusted* ● Adjusted EBITDA* of $19.6 million vs. $82.2 million in 2021 and $22.6 million in 2019 ● Diluted EPS of $6.34, or $0.35 as adjusted*, vs. diluted EPS of $5.71 in 2021 and $0.60 in 2019, or $0.67 as adjusted*
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465922122632/0001104659-22-122632-index.htm
- Earnings Releases
  Citi Trends Inc reported the third quarter ended October 29, 2022 results: revenue $192.3 million, net income $24.6 million, EPS $3.02. Guidance reaffirmed.
  - Period: the third quarter ended October 29, 2022
  - Revenue: $192.3 million
  - Net income: $24.6 million
  - EPS: $3.02
  - Guidance: reaffirmed
  - Result: reported results
  source text: Total third quarter sales of $192.3 million with gross margin of 39.8% Comparable sales decreased 18.3% vs. 19.7% increase in Q3 2021 vs. Q3 2019; 3 year stack of 1.4% Net income of $24.6 million; adjusted operating income* of $2.4 million Diluted EPS of $3.02; adjusted diluted EPS* of $0.24 vs. diluted loss per share of ($0.09) in 2019
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465922122632/0001104659-22-122632-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.