Citi Trends Inc reported the first quarter ended May 2, 2026 results: revenue $230.9 million, net income $7.8 million. Guidance reaffirmed.
“(EXHIBIT 99.1) --- EX-99.1 2 tm2616574d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 CITITRENDS ANNOUNCES FIRST QUARTER FISCAL 2026 RESULTS Q1 2026 total sales increased 14.4% to $230.9 million Comparable store sales growth of 13.9%; Two-year stack of 23.8% Q1 2026 Net Income of $7.8 million; Q1 2026 adjusted EBITDA* of $13.9 million, more than double Q1 2025 results”
Pamela Edwards was appointed as Director at Citi Trends Inc.
“On March 25, 2025, the Board appointed each of the New Directors to serve as a member of the Board, effective as of April 2, 2025.”
Wesley Calvert was appointed as Director at Citi Trends Inc.
“On March 25, 2025, the Board appointed each of the New Directors to serve as a member of the Board, effective as of April 2, 2025.”
Jonathan Duskin departed as Director at Citi Trends Inc.
“On March 25, 2025, Messrs. Sachse and Duskin informed the Board that they will retire from the Board, effective as of April 2, 2025.”
Peter Sachse departed as Director at Citi Trends Inc.
“On March 25, 2025, Messrs. Sachse and Duskin informed the Board that they will retire from the Board, effective as of April 2, 2025.”
David Heath was appointed as Lead Independent Director at Citi Trends Inc.
“Effective as of April 2, 2025, the Board appointed Mr. Seipel as Chairman of the Board and Mr. Heath as Lead Independent Director of the Board.”
Kenneth Seipel was appointed as Chairman of the Board at Citi Trends Inc.
“Effective as of April 2, 2025, the Board appointed Mr. Seipel as Chairman of the Board”
Vivek Bhargava departed as Senior Vice President of Supply Chain at Citi Trends Inc.
“On January 21, 2025, Citi Trends, Inc. (the “Company”) announced that Vivek Bhargava, Senior Vice President of Supply Chain, is leaving the Company, effective January 21, 2025.”
Kenneth (Ken) D. Seipel was appointed as Chief Executive Officer at Citi Trends Inc.
“On November 19, 2024, the Company announced that its Board of Directors (the “Board”) has concluded its search for a Chief Executive Officer and has appointed Kenneth (Ken) D. Seipel, the Company’s Interim Chief Executive Officer and a member of the Board, to serve as its permanent Chief Executive Officer, effective as of November 18, 2024.”
Kenneth D. Seipel was appointed as Interim Chief Executive Officer at Citi Trends Inc.
“appointed Kenneth D. Seipel, a current member of the Board, to the position of Interim Chief Executive Officer, effective as of June 2, 2024.”
David N. Makuen resigned as Chief Executive Officer at Citi Trends Inc.
“On May 29, 2024, the Board determined that David N. Makuen would transition from the role of Chief Executive Officer, effective June 1, 2024.”
Governance Changes
Citi Trends Inc: Filed a Certificate of Elimination to eliminate all provisions of the Certificate of Designation for Series A Junior Participating Preferred Stock, returning those shares to authorized but undesignated preferred stock (effective 2024-05-07).
“On May 7, 2024, the Company filed a Certificate of Elimination (the “ Certificate of Elimination ”) with the Secretary of State of the State of Delaware eliminating all provisions of the Certificate of Designation previously filed by the Company with the Delaware Secretary of State on December 6, 2023 related to the series of preferred stock designated as Series A Junior Participating Preferred Stock (the “ Series A Preferred Stock ”) established pursuant to the Rights Agreement.”
Material Agreements
Citi Trends Inc terminated Stockholder Protection Rights Agreement with Equiniti Trust Company, LLC (effective 2024-05-07).
“The Amendment terminated the Rights Agreement by accelerating the expiration time of the Company's preferred share purchase rights”
Earnings Releases
Citi Trends Inc updated its the fourth quarter and full year ended February 3, 2024 guidance (initiated).
“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”
Heather Plutino was appointed as Chief Financial Officer at Citi Trends Inc.
“Heather Plutino, the Company’s Chief Financial Officer, has replaced Mr. Moschner as the Company’s principal accounting officer, effective March 7, 2024.”
Jason Moschner departed as Vice President of Finance and principal accounting officer at Citi Trends Inc.
“On March 7, 2024, Citi Trends, Inc. (the “Company”) announced that Jason Moschner, the Company’s Vice President of Finance and principal accounting officer, is leaving the Company, effective March 7, 2024.”
Christina Francis retired as Director at Citi Trends Inc.
“Three incumbent directors of the Board, Brian Carney, Laurens Goff and Christina Francis, have informed the Board that they will retire from the Board, effective as of the conclusion of the 2024 Annual Meeting.”
Laurens Goff retired as Director at Citi Trends Inc.
“Three incumbent directors of the Board, Brian Carney, Laurens Goff and Christina Francis, have informed the Board that they will retire from the Board, effective as of the conclusion of the 2024 Annual Meeting.”
Brian Carney retired as Director at Citi Trends Inc.
“Three incumbent directors of the Board, Brian Carney, Laurens Goff and Christina Francis, have informed the Board that they will retire from the Board, effective as of the conclusion of the 2024 Annual Meeting.”
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