Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
SAVANNAH, Ga. -On Tuesday, Citi Trends Inc. (NASDAQ:CTRN) the off-price retailer reported fourth-quarter revenue that beat analyst expectations, despite posting a wider-than-expected loss.
The company’s shares jumped 4.50% in premarket trading following the release.
The company reported Q4 revenue of $211.17 million, surpassing the consensus estimate of $209.19 million. However, Citi Trends posted a loss per share of $1.71, which was $1.89 worse than analysts’ expectations for earnings of $0.18 per share.
Comparable store sales increased 6.4% in Q4 compared to the same period last year, driven by increases in traffic, basket size and conversion. The company said this reflects improved product value, addition of off-price extreme value items, and better allocation methods.
Gross margin expanded 60 basis points YoY to 39.7% in Q4, benefiting from lower freight costs that were partially offset by planned markdowns.
For fiscal 2025, Citi Trends expects low to mid-single digit comparable store sales growth and significant EBITDA improvement. The company plans to open up to 5 new stores and remodel approximately 50 locations.
Citi Trends ended fiscal 2024 with $61.1 million in cash and no debt. The company repurchased 145,238 shares for $3.8 million in Q4.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.