secwatch.observer — SEC 8-K summary
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Issuer:     Citi Trends Inc (CTRN)
CIK:        0001318484
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001104659-23-094079
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/0001104659-23-094079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1318484/000110465923094079/tm2324261d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-094079

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