2023-03-21 06:49:17 ET
- Citi Trends press release ( NASDAQ: CTRN ): Q4 Non-GAAP EPS of $0.83 beats by $0.02 .
- Revenue of $209.46M (-13.1% Y/Y) beats by $0.7M .
- Adjusted EBITDA of $12.3 million compared to $17.8 million in Q4 2021 and $16.6 million in Q4 2019
- Outlook:
- First quarter total sales are expected to decline by approximately low double digits to mid-teens as compared to the first quarter of fiscal 2022, with an operating loss in the quarter
- Combined second quarter through fourth quarter improvements will be driven by operational efficiencies, tight SG&A control and a sharpened focus on trend development with ample liquidity to refine assortments
- Full year total sales are planned to be in the range of negative low single-digits to positive low single-digits as compared to fiscal 2022
- Full year gross margin to remain in the high thirties driven by continued inventory control and freight management
- Full year EBITDA planned to be in the range of $20 million to $30 million with the Company striving to meet or exceed its prior year result
- The Company plans to open 5 to 10 new stores, remodel 25 to 30 stores and close 10 to 15 underperforming stores as part of its ongoing fleet optimization; expecting to end fiscal 2023 with approximately 600 stores
- Full year capital expenditures are expected to be in the range of $20 million to $25 million
For further details see:
Citi Trends Non-GAAP EPS of $0.83 beats by $0.02, revenue of $209.46M beats by $0.7M