Citi Trends holiday sales $179.5M, comps -0.3%, reaffirms FY2023 guidance

Citi Trends Inc

Holiday sales $179.5M vs $181.9M in 2022; comp sales -0.3%, a ~600 bps improvement vs prior quarter.
Reaffirms FY2023 outlook: total sales down mid-single digits, gross margin high thirties, EBITDA $1M-$7M.
Year-end cash expected $80M-$90M; Q4 EBITDA guided $9M-$15M with comps down low-single to flat.
CEO cites strategic inventory investments and strong gross margin as drivers of holiday performance.

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