Citi Trends, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 28, 2023
November 28, 2023 at 06:45 am EST
Share
Citi Trends, Inc. reported earnings results for the third quarter and nine months ended October 28, 2023. For the third quarter, the company reported sales was USD 179.52 million compared to USD 192.32 million a year ago. Net loss was USD 3.86 million compared to net income of USD 24.59 million a year ago. Basic loss per share from continuing operations was USD 0.47 compared to basic earnings per share from continuing operations of USD 3.02 a year ago. Diluted loss per share from continuing operations was USD 0.47 compared to diluted earnings per share from continuing operations of USD 3.02 a year ago.
For the nine months, sales was USD 532.76 million compared to USD 585.55 million a year ago. Net loss was USD 15.53 million compared to net income of USD 52.26 million a year ago. Basic loss per share from continuing operations was USD 1.89 compared to basic earnings per share from continuing operations of USD 6.34 a year ago. Diluted loss per share from continuing operations was USD 1.89 compared to diluted earnings per share from continuing operations of USD 6.34 a year ago.
Citi Trends, Inc. is a specialty retailer of apparel, accessories and home trends primarily for African American and multicultural families in the United States. It operates over 611 stores in urban, suburban and rural markets in 33 states. It offers range of merchandise, including apparel for juniors, missy and women (plus size), including fashion sportswear, outerwear, sleepwear, lingerie and scrubs. It offers apparel for men and big men, including fashion sportswear and outerwear and fashion clothing for boys and girls up to size 20 and sizes for newborns, infants and toddlers, as well as kids uniforms and kids accessories. It also provides fashionable handbags, luggage, hats, belts, sunglasses, jewelry and watches for men and women, as well as basic undergarments for the entire family and beauty and fragrance offerings for women and men; home goods for the bedroom, bathroom, kitchen and decorative accessories, and casual and dress footwear in sizes for men, ladies and kids.