Press release
Citi Trends Announces 2024 Holiday Sales Results for Quarter-to-Date Through January 4, 2025
Total Holiday Sales for the quarter-to-date period ending January 4, 2025 of $174.4 million, at the high end of expectations Quarter-to-date Fiscal 2024
About this update from Citi Trends, Inc.
[{"type":"text","content":"\nTotal Holiday Sales for the quarter-to-date period ending January 4, 2025 of $174.4 million, at the high end of expectations\n\n\nQuarter-to-date Fiscal 2024 comparable store sales growth of 7.1%, consistent with accelerated top-line momentum as reported in Q3 Fiscal 2024\n\n\nExpects Sales and EBITDA* results for second half of Fiscal 2024 to be at the high end of previously provided outlook\n\n\n SAVANNAH, Ga.--(BUSINESS WIRE)--\nCiti Trends, Inc. (NASDAQ: CTRN), a leading specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and multicultural families in the United States, today announced results for its holiday selling period.\n\n\nTotal sales for the quarter-to-date period ending January 4, 2025 of $174.4 million compared to $169.0 million in the same period in 2023. Comparable store sales, calculated on a shifted 9-week to 9-week basis, increased 7.1% versus 2023.\n\n\nKen Seipel, Chief Executive Officer, said, \"I am pleased to report that our holiday sales were at the high end of our expectations as our revised product assortment, including exciting off-price deals, resonated well with the families we serve. Importantly, our 7.1% comparable store sales growth was driven by improvements in both traffic and basket throughout the period. Consistent with our Q3 Fiscal 2024 sales results, our holiday sales results represent good customer acceptance of our efforts to adjust our product value strategy and improved operational processes. As a result of holiday performance, we now expect second half sales and EBITDA* results to be at the high end of our previously provided outlook.\"\n\n\nMr. Seipel continued, \"I would like to thank the entire Citi Trends team for their continued hard work and dedication throughout the holiday season. Retail is a team sport, depending on all areas to execute well to delight our customers. From the merchants who selected trendy styles at amazing prices, to the supply chain team who moved the goods at increased speed, to our store teams who once again amazed our loyal customers, the Citi Trends team was ready for holiday like never before. My belief in the Company’s potential to deliver much improved financial results remains strong and we will continue to refine and improve our team-based execution as we look forward to the Spring sel...