secwatch.observer — SEC 8-K summary
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Issuer:     Citi Trends Inc (CTRN)
CIK:        0001318484
Form:       8-K
Filed at:   2024-08-27T23:59:59+00:00
Accession:  0001104659-24-093052
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citi Trends Q2 net loss $18.4M vs $5.0M loss; sales up 1.7% to $176.6M; gross margin 31.1%
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- Q2 total sales $176.6M (+1.7% YoY); comp store sales -1.7% on shifted basis.
- Gross margin fell to 31.1% from 38.2% due to $9.4M markdowns and $4.0M shrink charges.
- Net loss $18.4M ($16.2M adjusted) vs $5.0M loss ($4.9M adjusted) a year ago.
- Adjusted EBITDA loss $17.2M including $13.4M transition costs vs loss $3.1M in Q2 2023.
- H2 2024 outlook: comps flat to up low-single digits; EBITDA $0.5M-$2.5M; capex cut to ~$13M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1318484/000110465924093052/0001104659-24-093052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1318484/000110465924093052/tm2422653d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-093052

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