Citi Trends (CTRN) Tops Q2 EPS by 21c
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Citi Trends Announces Second Quarter 2022 Results
August 24, 2022 6:45 AM EDTTotal second quarter sales of $185.0 million with gross margin of 38.1%
Comparable sales decreased 24.9% vs. 25.6% increase in Q2 2021 vs. Q2 2019; 3 year stack of 0.7%
First half 2022 net income of $27.7 million; adjusted EBITDA* of $12.1 million
Expects to close second sale-leaseback transaction for $36 million in September
Company is aggressively lowering expenses to align with the current demand environment
Expects second half operating income to be approximately in line with second half... More
