Citi Trends, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 29, 2023
August 22, 2023 at 06:45 am EDT
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Citi Trends, Inc. reported earnings results for the second quarter and six months ended July 29, 2023. For the second quarter, the company reported sales was USD 173.55 million compared to USD 185.01 million a year ago. Net loss was USD 5.03 million compared to USD 2.54 million a year ago. Basic loss per share from continuing operations was USD 0.61 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.61 compared to USD 0.31 a year ago.
For the six months, sales was USD 353.24 million compared to USD 393.23 million a year ago. Net loss was USD 11.67 million compared to net income of USD 27.67 million a year ago. Basic loss per share from continuing operations was USD 1.42 compared to basic earnings per share from continuing operations of USD 3.34 a year ago. Diluted loss per share from continuing operations was USD 1.42 compared to diluted earnings per share from continuing operations of USD 3.34 a year ago.
Citi Trends, Inc. is a specialty retailer of apparel, accessories and home trends primarily for African American and multicultural families in the United States. The Company operates over 602 stores located in 33 states. It offers a range of merchandise, including a range of apparel for juniors, missy and women (plus size), including sportswear, outerwear, sleepwear, lingerie and scrubs; selection of apparel for men and big men, including sportswear and outerwear; an assortment of basics, fashion and trends for boys up to size 20 and girls up to size 16 and also, sizes for newborns, infants and toddlers, as well as kids uniforms and accessories; fashionable handbags, hats, belts, sunglasses, jewelry and watches for men and women, underwear and socks for the entire family, as well as beauty and fragrance offerings for women and men; home goods for the bedroom, bathroom, kitchen and decorative accessories, and casual and dress footwear in sizes for men, ladies and kids.