secwatch.observer — SEC 8-K summary
======================================

Issuer:     Citi Trends Inc (CTRN)
CIK:        0001318484
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001104659-24-068049
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citi Trends Q1 sales up 3.7% to $186.3M; comps +3.1%; net loss per share ($0.42); guides FY EBITDA $4M-$10M
--------------------------------------------------------------------------------

- Total sales $186.3M (+3.7% YoY); comp store sales +3.1%; gross margin 38.7% vs 36.7% last year.
- Net loss per share ($0.42) vs ($0.81) last year; adjusted EPS ($0.32) vs ($0.66) last year.
- FY2024 outlook: comp sales growth low to mid-single digits (slightly below prior); EBITDA $4M-$10M unchanged; SG&A growth 1.5-2.5% better.
- CEO David Makuen stepped down May 31; Ken Seipel named Interim CEO.
- Cash $58.2M, no debt; $50M share repurchase authority remains; no buybacks in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1318484/000110465924068049/0001104659-24-068049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1318484/000110465924068049/tm2416284d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-068049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer