Citi Trends Files 10-Q: Financial Snapshot

TL;DR

Citi Trends 10-Q filed. Financials look stable for Q3 2024.

AI Summary

Citi Trends Inc. filed its 10-Q for the period ending November 2, 2024. The filing details the company's financial position, including retained earnings, additional paid-in capital, and treasury stock as of various dates in 2024. The company is incorporated in Delaware and operates in the apparel and accessory stores sector.

Why It Matters

This filing provides investors with a detailed look at Citi Trends' financial health and equity structure as of late 2024, crucial for understanding its stability and potential.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 2024-11-02 — Reporting Period End Date (Indicates the most recent financial data available in this filing.)
• 2024-08-03 — Previous Quarter End Date (Provides a point of comparison for financial trends.)
• 2024-05-04 — Prior Quarter End Date (Offers further historical financial context.)

Key Players & Entities

• Citi Trends Inc. (company) — Filer of the 10-Q report
• November 2, 2024 (date) — End of the reporting period
• 2024 (date) — Year for which financial data is presented
• Delaware (location) — State of incorporation

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value CTRN NASDAQ Stock Market

Filing Documents

• ctrn-20241102x10q.htm (10-Q) — 1073KB
• ctrn-20241102xex10d1.htm (EX-10.1) — 24KB
• ctrn-20241102xex31d1.htm (EX-31.1) — 17KB
• ctrn-20241102xex31d2.htm (EX-31.2) — 17KB
• ctrn-20241102xex32d1.htm (EX-32.1) — 15KB
• ctrn-20241102xex10d1g001.jpg (GRAPHIC) — 202KB
• ctrn-20241102xex10d1g002.jpg (GRAPHIC) — 233KB
• ctrn-20241102xex10d1g003.jpg (GRAPHIC) — 222KB
• ctrn-20241102xex10d1g004.jpg (GRAPHIC) — 212KB
• ctrn-20241102xex10d1g005.jpg (GRAPHIC) — 205KB
• ctrn-20241102xex10d1g006.jpg (GRAPHIC) — 49KB
• ctrn-20241102xex10d1g007.jpg (GRAPHIC) — 37KB
• 0001558370-24-016152.txt ( ) — 5376KB
• ctrn-20241102.xsd (EX-101.SCH) — 25KB
• ctrn-20241102_cal.xml (EX-101.CAL) — 39KB
• ctrn-20241102_def.xml (EX-101.DEF) — 61KB
• ctrn-20241102_lab.xml (EX-101.LAB) — 239KB
• ctrn-20241102_pre.xml (EX-101.PRE) — 150KB
• ctrn-20241102x10q_htm.xml (XML) — 485KB

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) November 2, February 3, 2024 2024 Assets Current assets: Cash and cash equivalents $ 38,872 $ 79,706 Inventory 127,514 130,432 Prepaid and other current assets 13,145 10,838 Income tax receivable 3,581 4,123 Total current assets 183,112 225,099 Property and equipment, net of accumulated depreciation of $ 294,363 and $ 276,446 as of November 2, 2024 and February 3, 2024, respectively 48,878 56,231 Operating lease right of use assets 218,899 231,281 Deferred income taxes 15,301 5,105 Other assets 886 1,005 Total assets $ 467,076 $ 518,721 Liabilities and Stockholders ' Equity Current liabilities: Accounts payable $ 82,791 $ 100,366 Operating lease liabilities 49,390 45,842 Accrued expenses 16,106 16,466 Accrued compensation 9,731 6,846 Layaway deposits 1,548 384 Total current liabilities 159,566 169,904 Noncurrent operating lease liabilities 175,767 188,810 Other long-term liabilities 1,473 2,301 Total liabilities 336,806 361,015 Stockholders ' equity: Common stock, $ 0.01 par value. Authorized 32,000,000 shares; 16,434,037 shares issued as of November 2, 2024 and 16,354,714 shares issued as of February 3, 2024; 8,630,024 shares outstanding as of November 2, 2024 and 8,550,701 shares outstanding as of February 3, 2024 162 160 Paid in capital 107,239 105,686 Retained earnings 290,080 319,071 Treasury stock, at cost; 7,804,013 shares held as of November 2, 2024 and February 3, 2024 ( 267,211 ) ( 267,211 ) Total stockholders ' equity 130,270 157,706 Commitments and contingencies (Note 7) Total liabilities and stockholders ' equity $ 467,076 $ 518,721 See accompanying notes to the condensed consolidated financial statements (unaudited). 3 Table of

View Full Filing

View this 10-Q filing on SEC EDGAR