---
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"
generated_at: "2026-06-11T05:22:44.321006+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Citi Trends Q2 2023 sales down 6.2% to $173.6M; comps down 5.3% but improve 880 bps from Q1

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-094079
- JSON: https://secwatch.observer/filing/0001104659-23-094079.json
- Plain text: https://secwatch.observer/filing/0001104659-23-094079.txt

## Key facts
- Earnings Releases
  Citi Trends Inc reported the second quarter ended July 29, 2023 results: revenue $173.6 million, EPS ($0.61). Guidance reaffirmed.
  - Period: the second quarter ended July 29, 2023
  - Revenue: $173.6 million
  - EPS: ($0.61)
  - Guidance: reaffirmed
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/0001104659-23-094079-index.htm

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