Citi Trends Reports Q4 2024 Earnings and Fiscal Outlook

Citi Trends ( (CTRN) ) has released its Q4 earnings. Here is a breakdown of the information Citi Trends presented to its investors.

Citi Trends, Inc. is a prominent off-price value retailer in the United States, specializing in apparel, accessories, and home trends primarily for African American families. The company operates 591 stores across 33 states.

In its latest earnings report, Citi Trends announced a total sales figure of $211.2 million for the fourth quarter of fiscal 2024, with a comparable store sales growth of 6.4%. The company also reported a gross margin expansion to 39.7% and ended the fiscal year with $136 million in liquidity, including $61 million in cash and no debt.

Key financial highlights include a net loss of $14.2 million for the fourth quarter, compared to a net income of $3.6 million in the previous year. Despite this, the company saw a positive trend in comparable store sales and improved gross margins due to lower freight expenses. For the full fiscal year 2024, Citi Trends achieved total sales of $753.1 million, marking a slight increase from the previous year.

Looking ahead, Citi Trends is optimistic about fiscal 2025, expecting low to mid-single digit growth in comparable store sales and significant improvement in EBITDA. The company plans to remodel 50 stores and open up to 5 new locations, aiming to strengthen its market position and capitalize on its off-price business model.

Citi Trends’ management remains confident in the company’s strategic direction, focusing on executing foundational improvements and maintaining flexibility to adapt to changing market conditions. The company is poised to enhance its financial performance and market share in the coming year.