---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-063392"
form_type: "8-K"
ticker: "CTRN"
cik: "0001318484"
company_name: "Citi Trends Inc"
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:08:04.756730+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Citi Trends Q1 net loss $0.81/sh; sales down 13.7%; guides FY EBITDA $5-20M

## Summary
- Total sales $179.7M (-13.7% YoY); comp store sales -14.1%.
- Gross margin 36.7% (adj. 37.0%) vs 39.0% in Q1 2022.
- Operating loss $9.5M vs income $39.7M in Q1 2022.
- Net loss per share ($0.81); adjusted net loss ($0.66).
- FY 2023 guidance: total sales -mid to low single digits; EBITDA $5-20M.

## SEC filing metadata
- accession: 0001104659-23-063392
- form_type: 8-K
- ticker: CTRN
- cik: 0001318484
- company_name: Citi Trends Inc
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318484/000110465923063392/0001104659-23-063392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318484/000110465923063392/tm2316456d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-063392
- JSON: https://secwatch.observer/filing/0001104659-23-063392.json
- Plain text: https://secwatch.observer/filing/0001104659-23-063392.txt

## Key facts
- Earnings Releases
  Citi Trends Inc updated its fiscal year 2023 guidance (lowered).
  - Period: fiscal year 2023
  - Guidance: lowered
  - Result: guidance update
  source text: Given the uncertain macro-economic environment, the Company is updating its outlook for fiscal 2023 as follows: · Full year total sales are expected to be in the range of negative mid single-digits to negative low single-digits as compared to fiscal 2022, assuming a challenging first half with modest improvement in the second half of the year · Full year EBITDA now expected to be in the range of $5 million to $20 million · The Company now plans to open 5 new stores and remodel 10 to 20 stores in the year · Full year capital expenditures are now expected to be in the range of $15 million to $20 million · Year end cash balance is expected to be in the range of $85 million to $105 million · The remaining aspects of the prior guidance are unchanged with full year gross margin expected to be in the high thirties and the closure of 10 to 15 underperforming stores
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465923063392/0001104659-23-063392-index.htm
- Earnings Releases
  Citi Trends Inc reported first quarter ended April 29, 2023 results: revenue $179.7 million, EPS ($0.81).
  - Period: first quarter ended April 29, 2023
  - Revenue: $179.7 million
  - EPS: ($0.81)
  - Result: reported results
  source text: CITI TRENDS ANNOUNCES FIRST QUARTER 2023 RESULTS Total sales of $179.7 million, in line with previously stated guidance Strong financial position with liquidity of approximately $164 million and no debt Company updates fiscal year 2023 guidance SAVANNAH, GA (May 23, 2023) — 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 first quarter ended April 29, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465923063392/0001104659-23-063392-index.htm

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