Citi Trends 10-Q: Financials & Lease Data

Ticker: CTRN · Form: 10-Q · Filed: Sep 11, 2024 · CIK: 1318484

Citi Trends INC 10-Q Filing Summary
FieldDetail
CompanyCiti Trends INC (CTRN)
Form Type10-Q
Filed DateSep 11, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, retail

TL;DR

Citi Trends 10-Q filed. Financials look stable, lease data updated.

AI Summary

Citi Trends Inc. filed its 10-Q for the period ending August 3, 2024. The company reported its financial results, including details on retained earnings, additional paid-in capital, and treasury stock as of various dates in 2023 and 2024. The filing also includes information on operating lease liabilities.

Why It Matters

This filing provides investors with a detailed look at Citi Trends' financial health and obligations, including its lease commitments, which can impact future cash flow.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

Key Players & Entities

FAQ

What is the total value of Citi Trends' retained earnings as of August 3, 2024?

The filing indicates retained earnings as of August 3, 2024, but the specific dollar amount is not present in the provided header data.

What were the company's operating lease liabilities at the end of the reporting period?

The filing references 'OperatingLeaseLiabilityCurrent' and 'OperatingLeaseLiabilityNoncurrent' but the specific values are not detailed in the header.

When was the previous fiscal quarter end for Citi Trends?

The previous fiscal quarter end was May 4, 2024, as indicated by the data points for that date.

What is Citi Trends' Standard Industrial Classification (SIC) code?

Citi Trends' SIC code is 5600, categorized under RETAIL-APPAREL & ACCESSORY STORES.

What is the SEC file number for this Citi Trends 10-Q filing?

The SEC file number for this filing is 001-41886.

Filing Stats: 4,667 words · 19 min read · ~16 pages · Grade level 14.9 · Accepted 2024-09-11 16:38:45

Key Financial Figures

Filing Documents

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Stockholders ' Equity 6 Notes to the Condensed Consolidated Financial Statements 7 Item 2 Management ' s Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4

Controls and Procedures

Controls and Procedures 16 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 17 Item 1A

Risk Factors

Risk Factors 17 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3 Defaults Upon Senior Securities 17 Item 4 Mine Safety Disclosures 17 Item 5 Other Information 17 Item 6 Exhibits 18

SIGNATURES

SIGNATURES 19 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Citi Trends, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share data) August 3, February 3, 2024 2024 Assets Current assets: Cash and cash equivalents $ 59,302 $ 79,706 Inventory 134,996 130,432 Prepaid and other current assets 16,922 10,838 Income tax receivable 3,896 4,123 Total current assets 215,116 225,099 Property and equipment, net of accumulated depreciation of $ 291,466 and $ 276,446 as of August 3, 2024 and February 3, 2024, respectively 51,702 56,231 Operating lease right of use assets 225,278 231,281 Deferred income taxes 13,715 5,105 Other assets 920 1,005 Total assets $ 506,731 $ 518,721 Liabilities and Stockholders ' Equity Current liabilities: Accounts payable $ 110,540 $ 100,366 Operating lease liabilities 49,071 45,842 Accrued expenses 17,056 16,466 Accrued compensation 7,724 6,846 Layaway deposits 1,092 384 Total current liabilities 185,483 169,904 Noncurrent operating lease liabilities 182,869 188,810 Other long-term liabilities 1,789 2,301 Total liabilities 370,141 361,015 Stockholders ' equity: Common stock, $ 0.01 par value. Authorized 32,000,000 shares; 16,419,356 shares issued as of August 3, 2024 and 16,354,714 shares issued as of February 3, 2024; 8,615,343 shares outstanding as of August 3, 2024 and 8,550,701 shares outstanding as of February 3, 2024 162 160 Paid in capital 106,407 105,686 Retained earnings 297,232 319,071 Treasury stock, at cost; 7,804,013 shares held as of August 3, 2024 and February 3, 2024 ( 267,211 ) ( 267,211 ) Total stockholders ' equity 136,590 157,706 Commitments and contingencies (Note 7) Total liabilities and stockholders ' equity $ 506,731 $ 518,721 See accompanying notes to the condensed consolidated financial statements (unaudited). 3 Table of Contents

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

Forward-Looking Statements Except for specific historical information, many of the matters discussed in this Form 10-Q may express or imply projections of revenues or expenditures, statements of plans and objectives for future operations, growth or ini

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