Citi Trends (CTRN) Tops Q3 EPS by 28c; Reiterates Guidance

Citi Trends (NASDAQ: CTRN) reported Q3 EPS of $0.24, $0.28 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $192.3 million versus the consensus estimate of $185.57 million.

GUIDANCE:

The Company is reiterating its guidance for the second half of 2022, as set forth in the second quarter 2022 earnings release.

• Expects low single digit increase in second half total sales compared to first half total sales
• 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.

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