Citi Trends (CTRN) Tops Q2 EPS by 21c

Citi Trends (NASDAQ: CTRN) reported Q2 EPS of $0.31, $0.21 better than the analyst estimate of $0.10. Revenue for the quarter came in at $185 million versus the consensus estimate of $199.5 million.

GUIDANCE:

The Company is providing the following updated guidance for 2022, which includes the impact of the sale-leaseback of the Roland distribution center:

• Expects low single digit increase in second half total sales compared to first half total sales; for the full year this represents an 8% to 10% decline from the mid-point of previous guidance of $870 million
• Expects gross margin to remain in the high 30s to low 40s range for the second half
• Expects significantly less SG&A expense deleverage in the second half vs. the same period in the prior year as a result of swift expense reduction actions net of incremental lease expense from the sale-leaseback transactions
• Expects second half operating income to be approximately in line with the second half of 2019
• Expects year-end cash balance of approximately $85 million to $100 million

For earnings history and earnings-related data on Citi Trends (CTRN) click here.

You May Also Be Interested In

• Freightos Limited (CRGO) Tops Q2 EPS by 3c ; Offers Guidance
• Motorsport Games Inc. (MSGM) Tops Q2 EPS by 33c
• Benchmark Reiterates Buy Rating on Odysight.AI Inc. (ODYS)