Citi Trends Files 8-K on Financials and Executive Changes

TL;DR

Citi Trends 8-K: Financials updated, execs shuffled. Keep an eye on Q4.

AI Summary

Citi Trends, Inc. filed an 8-K on November 19, 2024, reporting on results of operations, financial condition, and changes in its board and officer composition. The filing also includes information on compensatory arrangements for certain officers and Regulation FD disclosures. The report covers events as of November 18, 2024.

Why It Matters

This filing provides investors with crucial updates on Citi Trends' financial performance and any significant changes in its leadership or executive compensation, impacting the company's strategic direction and governance.

Risk Assessment

Risk Level: low — This is a routine 8-K filing reporting on financial results and executive changes, with no immediate indication of significant financial distress or major negative events.

Key Players & Entities

• Citi Trends, Inc. (company) — Registrant
• November 18, 2024 (date) — Earliest event reported
• November 19, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• 001-41886 (identifier) — SEC File Number
• 52-2150697 (identifier) — IRS Employer Identification No.
• 104 Coleman Boulevard, Savannah, Georgia 31408 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value CTRN Nasdaq Stock Market
• $725,000 — r. Seipel will receive a base salary of $725,000 per year and will be eligible to earn a

Filing Documents

• tm2428720d1_8k.htm (8-K) — 37KB
• tm2428720d1_ex99-1.htm (EX-99.1) — 16KB
• 0001104659-24-120355.txt ( ) — 231KB
• ctrn-20241118.xsd (EX-101.SCH) — 3KB
• ctrn-20241118_lab.xml (EX-101.LAB) — 33KB
• ctrn-20241118_pre.xml (EX-101.PRE) — 22KB
• tm2428720d1_8k_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On November 19, 2024, Citi Trends, Inc. (the "Company") issued a press release that in part provides preliminary financial results for the third quarter of fiscal 2024 (the "Press Release"). A copy of the Press Release is attached to this Current Report on Form 8-K ("Current Report") as Exhibit 99.1, and the portion of the Press Release regarding the preliminary financial information is incorporated herein by reference. The information contained in this Item 2.02, including the portion of the Press Release regarding the preliminary financial information, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 19, 2024, the Company announced that its Board of Directors (the "Board") has concluded its search for a Chief Executive Officer and has appointed Kenneth (Ken) D. Seipel, the Company's Interim Chief Executive Officer and a member of the Board, to serve as its permanent Chief Executive Officer, effective as of November 18, 2024. Mr. Seipel, age 64, has served as a director of the Company since 2019. Mr. Seipel is currently the Interim Chief Executive Officer of the Company and the Principal of Retail Business Optimization LLC, a consulting firm optimizing retail execution. He formerly served as the lead independent director of West Marine Inc., the world's largest retailer of boating supplies, since August 2021, after previously serving as the Chief

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On November 19, 2024, the Company announced the appointment of its permanent CEO as described above. The portion of the Press Release regarding the CEO appointment is incorporated herein by reference. The information contained in this Item 7.01, including the portion of the Press Release regarding the CEO appointment, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference into any filings under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated November 19, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CITI TRENDS, INC. Date: November 19, 2024 By: /s/ Heather Plutino Name: Heather Plutino Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR