Citi Trends, Inc. (NASDAQ:CTRN) Q2 2024 Earnings Call Transcript August 27, 2024 9:00 AM ET Company Participants Nitza McKee - Senior Associate, ICR Ken Seipel - Interim CEO Heather Plutino - CFO Conference Call Participants Michael Baker - D.A. Davidson John Lawrence - The Benchmark Company Jeremy Hamblin - Craig-Hallum Operator Greetings. Welcome to Citi Trends' Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal ...

Exhibit 99.1 CITI TRENDS ANNOUNCES SECOND QUARTER FISCAL 2024 RESULTS Total sales growth of 1.7% to $176.6 million Significant actions taken to prepare for profitable growth Strong financial position with liquidity of approximately $134 million and no debt Single digit comparable store sales increase Q3 to-date Company provides Outlook for second half of Fiscal 2024 SAVANNAH, GA (August 27, 2024) — Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends f ...

Financial Performance - Net sales for the thirteen weeks ended May 4, 2024, were $186.3 million, an increase of 3.6% compared to $179.7 million for the same period in 2023[34]. - The company reported a net loss of $3.4 million for the first quarter of 2024, improving from a net loss of $6.6 million in the first quarter of 2023[34]. - Basic and diluted net loss per common share for the first quarter of 2024 was $0.42, compared to $0.81 for the same period in 2023[34]. - The company experienced a loss from operations of $7.0 million for the first quarter of 2024, an improvement from a loss of $9.5 million in the first quarter of 2023[34]. Equity and Liabilities - Total stockholders' equity decreased to $154.8 million as of May 4, 2024, from $157.7 million as of February 3, 2024[32]. - Total liabilities and stockholders' equity amounted to $484.1 million as of May 4, 2024, down from $518.7 million as of February 3, 2024[32]. - The company had no borrowings under its credit facility as of May 4, 2024, with $1.4 million in letters of credit outstanding[43]. - The company reported a decrease of $14.5 million in accrued expenses and other long-term liabilities in Q1 2024, compared to a $20.0 million decrease in Q1 2023[46]. Expenses - Selling, general and administrative expenses increased to $74.2 million in the first quarter of 2024, compared to $70.8 million in the first quarter of 2023[34]. - Interest income for the first quarter of 2024 was $849,000, down from $1.0 million in the first quarter of 2023[34]. - Significant uses of cash included a $28.1 million decrease in accounts payable compared to an increase of $9.1 million in the first quarter of 2023[46]. - Significant cash uses in Q1 2024 included a $28.1 million decrease in accounts payable, contrasting with a $9.1 million increase in Q1 2023[46]. Shareholder Information - As of April 29, 2023, the company reported net income of $(6,635) million, with retained earnings at $324,415 million[38]. - The company had 16,116,915 common shares outstanding as of April 29, 2023, reflecting a decrease from 16,158,494 shares at the beginning of the year[38]. - The company excluded 272,000 shares of nonvested restricted stock from the diluted earnings per share calculation for Q1 2024[40]. Cash Requirements and Commitments - The company’s cash requirements primarily consist of inventory purchases, capital expenditures, and operational needs[47]. - Contractual commitments for operating leases totaled $229.9 million, with $41.1 million due within the next 12 months[47]. Accounting and Reporting - The condensed consolidated financial statements are prepared in accordance with U.S. GAAP and reflect all necessary adjustments for fair presentation[39]. - The operating results for Q1 2024 may not be indicative of the full fiscal year due to seasonality and economic uncertainty[39].

Citi Trends, Inc. (NASDAQ:CTRN) Q1 2024 Earnings Conference Call June 4, 2024 9:00 AM ET Company Participants Nitza McKee - Senior Associate, ICR Ken Seipel - Interim CEO Heather Plutino - CFO Conference Call Participants Michael Baker - D.A. Davidson Jeremy Hamblin - Craig-Hallum Capital Group John Lawrence - Benchmark Operator Greetings, and welcome to the Citi Trends First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session ...

Exhibit 99.1 CITI TRENDS ANNOUNCES FIRST QUARTER FISCAL 2024 RESULTS Total year-over-year sales growth of 3.7% to $186.3 million Comparable sales growth of 3.1%; Gross margin at 38.7% Balance sheet continues to have ample liquidity and no debt Company reiterates Fiscal 2024 EBITDA Outlook SAVANNAH, GA (June 4, 2024) — Citi Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the ...

| --- | --- | --- | --- | |--------------------------|--------|--------|--------| | Citis | 2023 | 2022 | 2021 | | Ladies | 27 % | 26 % | 26 % | | Kids | 23 % | 23 % | 22 % | | Accessories & Beauty | 17 % | 18 % | 18 % | | Mens | 17 % | 17 % | 18 % | | Home & Lifestyle | 9 % | 8 % | 9 % | | Footwear | 7 % | 8 % | 7 % | Cost of sales includes the cost of inventory sold during the period and transportation costs, including inbound freight related to inventory sold, freight from the distribution centers to the ...

Citi Trends, Inc. (NASDAQ:CTRN) Q4 2023 Earnings Call Transcript March 19, 2024 9:00 AM ET Company Participants Nitza McKee - Senior Associate David Makuen - CEO Heather Plutino - CFO Conference Call Participants Mike Baker - D.A. Davidson Jeremy Hamblin - Craig-Hallum Capital Group John Lawrence - Benchmark Operator Greetings and welcome to the Citi Trends Fourth Quarter 2023 Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-a ...

Exhibit 99.1 CITI TRENDS ANNOUNCES FOURTH QUARTER AND FISCAL 2023 RESULTS Q4 2023 total sales of $215.2 million with gross margin of 39.1% Q4 2023 diluted EPS of $0.42; adjusted diluted EPS* of $0.53 Fiscal 2023 total sales of $747.9 million Company ends Fiscal 2023 with $155 million of liquidity, including $80 million of cash and no debt Company provides outlook for Fiscal 2024; expects mid-single digit comp increase Q1 2024 to date comp trend consistent with outlook SAVANNAH, GA (March 19, 2024) — Citi Tr ...

Buffett Loads Up on This Stock Again, Plus CEO Insider Buying frender / iStock via Getty Images In the wake of a media giant’s quarterly report, the Oracle of Omaha is again bolstering his stake in the tracking stocks with some huge insider purchases. Plus, chief executive officers and an activist investor also scooped up some shares in the following companies.A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will ...

SAVANNAH, Ga.--(BUSINESS WIRE)--Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the fourth quarter and full year 2023 before the market opens on Tuesday, March 19, 2024. Citi Trends will host a conference call on the same day at 9:00 a.m. ET. The number to call for the live interactive teleconference is (212) 231-2921. A telephonic replay of the conference call will be available until March 28, 2023, by dialing (800) 633-8284 and entering the passcode, 22029021. The live ...