Citi Trends (CTRN) Misses Q4 EPS by 27c, Misses on Revenue; Offers Guidance

Citi Trends (NASDAQ: CTRN) reported Q4 EPS of $0.53, $0.27 worse than the analyst estimate of $0.80. Revenue for the quarter came in at $215.2 million versus the consensus estimate of $216.24 million.

The Company’s outlook for fiscal 2024 compared to fiscal 2023 is as follows:

• Expecting full year comparable store sales growth of mid-single digits
• Full year gross margin to expand by approximately 75 to 100 basis points driven by ERP system benefits and freight expense leverage
• SG&A dollars expected to increase by approximately 2.5% to 3.0% primarily driven by incentive compensation
• Full year EBITDA* planned to be in the range of $4 million to $10 million
• The Company plans to open up to 5 new stores, remodel approximately 40 stores and close 10 to 15 underperforming stores as part of its ongoing fleet optimization; expecting to end fiscal 2024 with approximately 595 stores

Full year capital expenditures are expected to be approximately $20 million

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

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