CTRN - Citi Trends Non-GAAP EPS of -$0.60 beats by $0.29 revenue of $173.55M beats by $7.51M

2023-08-22 06:48:37 ET

• Citi Trends press release ( NASDAQ: CTRN ): Q2 Non-GAAP EPS of -$0.60 beats by $0.29 .
• Revenue of $173.55M (-6.2% Y/Y) beats by $7.51M .
• Comparable store sales decreased 5.3% compared to Q2 2022, an 880 bps improvement to Q1 2023

• The Company is reiterating its outlook for fiscal 2023 as follows:

  • Full year total sales are expected to be in the range of negative mid single-digits to negative low single-digits as compared to fiscal 2022
  • Full year gross margin expected to be in the high thirties
  • Full year EBITDA* expected to be in the range of $5 million to $20 million
  • The Company plans to open 5 new stores, remodel 10 to 20 stores and close 10 to 15 underperforming stores in the year
  • Full year capital expenditures are expected to be in the range of $15 million to $20 million
  • Year end cash balance is expected to be in the range of $85 million to $105 million

For further details see: