Citi Trends (CTRN) Misses Q3 EPS by 43c

Citi Trends (NASDAQ: CTRN) reported Q3 EPS of ($0.56), $0.43 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $179.5 million versus the consensus estimate of $187.2 million.

GUIDANCE:

• Full year total sales are expected to be down mid-single digits as compared to fiscal 2022
• Full year gross margin is still expected to be in the high thirties
• Full year EBITDA* expected to be in the range of $1 million to $7 million
• Full year capex is expected to be in the range of $17 million to $20 million
• Year end cash balance is expected to be in the range of $80 million to $90 million
• Implied fourth quarter total sales are expected to be approximately flat to up low-single digits vs. Q4 2022 with EBITDA in the range of $9 million to $15 million

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

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