Citi Trends Q4 sales $215.2M, EPS $0.42; FY2023 net loss $12.0M; guides FY2024 mid-single digit comp growth

Citi Trends Inc

2023-FY EPS reported -$1.46 revenue$747,941,000

Q4 total sales $215.2M (+2.7% YoY, extra week $11.2M); comp sales -1.5%; diluted EPS $0.42 ($0.53 adjusted).
Full year sales $747.9M (-5.9% YoY); net loss $12.0M; adjusted net loss $10.5M; inventory +23% YoY.
FY2024 outlook: mid-single digit comp growth, gross margin +75-100 bps, EBITDA $4-10M, capex ~$20M.
Ended FY with $79.7M cash, no debt, $75M credit facility undrawn; $50M share repurchase authorization remains.
Plans to open 5 stores, remodel 40, close 10-15; ending FY2024 at ~595 stores.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Citi Trends Inc updated its the fourth quarter and full year ended February 3, 2024 guidance (initiated).

Period: the fourth quarter and full year ended February 3, 2024
Guidance: initiated
Result: reported results

Exact text from the filing

On March 19, 2024, the Company issued a press release reporting its financial results for the fourth quarter and full year ended February 3, 2024 and its outlook for fiscal year 2024

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Source: SEC EDGAR

accession 0001104659-24-035866

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