{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-094079","form_type":"8-K","ticker":"CTRN","cik":"0001318484","company_name":"Citi Trends Inc","filed_at":"2023-08-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.551614+00:00","generated_at":"2026-06-11T05:22:44.321006+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Citi Trends Q2 2023 sales down 6.2% to $173.6M; comps down 5.3% but improve 880 bps from Q1","bullets":["Total sales of $173.6M, down 6.2% YoY; comparable store sales decreased 5.3% but improved 880 bps from Q1 2023.","Gross margin 38.2% (flat vs. 38.1% in Q2 2022); operating loss of $7.9M vs. loss of $3.3M last year.","Net loss per share of ($0.61) vs. ($0.31) in Q2 2022; adjusted net loss per share ($0.60).","Total liquidity ~$141M ($65.8M cash, no debt, $75M credit facility undrawn).","Reiterates FY2023 guidance: sales down mid- to low-single digits, EBITDA $5M-$20M; opened 5 stores, closed 2."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-094079","json":"https://secwatch.observer/filing/0001104659-23-094079.json","markdown":"https://secwatch.observer/filing/0001104659-23-094079.md","text":"https://secwatch.observer/filing/0001104659-23-094079.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/0001104659-23-094079-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/tm2324261d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T05:22:44.321006+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6503aa95cb7916075af9583888a435d56b521d31","claim":"Citi Trends Inc reported the second quarter ended July 29, 2023 results: revenue $173.6 million, EPS ($0.61). Guidance reaffirmed.","evidence_excerpt":"Financial Highlights – Second Quarter 2023 ● Total sales of $173.6 million decreased 6.2% vs. Q2 2022; Comparable store sales decreased 5.3% compared to Q2 2022, an 880 bps improvement to Q1 2023 ● Gross margin of 38.2% vs. 38.1% in Q2 2022; 150 bps increase to Q1 2023 ● Operating loss of $7.9 million, or a loss of $7.8 million as adjusted*, compared to operating loss of $3.3 million in Q2 2022 ● Net loss per share of ($0.61), or adjusted net loss per share* of ($0.60), vs. net loss per share of ($0.31) in Q2 2022 ● Quarter-end total dollar inventory decreased 5.4% compared to Q2 2022 ● Total liquidity of approximately $141 million at the end of the quarter, made up of $65.8 million of cash, no borrowings under a $75 million credit facility, and no debt ● During Q2 2023, the Company opened 5 new stores, closed 2 underperforming locations and remodeled 8 stores, ending the quarter with 611 stores","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/0001104659-23-094079-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the second quarter ended July 29, 2023"},{"label":"Revenue","value":"$173.6 million"},{"label":"EPS","value":"($0.61)"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}