Press release
Citi Trends Announces Fourth Quarter and Fiscal 2021 Results
Q4 2021 total sales of $241 million, an increase of 14.2% vs. Q4 2019 Q4 2021 gross margin of 40.4%, an increase of 70 bps vs. Q4 2019 Q4 2021 earnings per
About this update from Citi Trends, Inc.
[{"type":"text","content":"\nQ4 2021 total sales of $241 million, an increase of 14.2% vs. Q4 2019\n\nQ4 2021 gross margin of 40.4%, an increase of 70 bps vs. Q4 2019\n\nQ4 2021 earnings per diluted share of $1.16 compared to $0.84 in Q4 2019\n\nFiscal 2021 total sales of $991.6 million, an increase of 26.8% vs. Fiscal 2019\n\nFiscal 2021 earnings per diluted share of $6.91 compared to $1.41 in Fiscal 2019\n\nCompany enters into definitive agreement for a sale-leaseback transaction\n\n SAVANNAH, Ga.--(BUSINESS WIRE)--\nCiti Trends, Inc. (NASDAQ: CTRN), a growing specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families in the United States, today reported results for the fourth quarter and full year ended January 29, 2022.\n\nThe Company is reporting the following operating results for the fourth quarter and full year 2021 relative to the same periods of 2019 due to the uniquely challenging operating environment in 2020 resulting from the COVID-19 pandemic.\n\nFinancial Highlights – Fourth Quarter 2021\n\n\nTotal sales increased 14.2% vs. Q4 2019\n\n\nComparable store sales increased 9.2% vs. Q4 2019\n\n\nGross margin increased 70 bps to 40.4% compared to 39.7% in Q4 2019\n\n\nOperating margin was 5.2% compared to 1.4% in Q4 2019\n\n\nEarnings per diluted share was $1.16 compared $0.84 in Q4 2019\n\n\nQuarter-end total inventory decreased 10.4% vs. Q4 2019\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nCITI TRENDS (CTRN)\n\nFourth Quarter\n\n\nFourth Quarter\n\n\n\n\n\n\n(in thousands, except per share data)\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2021 vs 2019\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nNet sales\n\n\n$\n\n\n\n240,974\n\n\n\n \n\n\n\n\n$\n\n\n\n251,919\n\n\n\n \n\n\n\n\n$\n\n\n\n211,013\n\n\n\n \n\n\n\n\n+14.2%\n\n\n\n\n\n\nComparable store sales\n\n\n \n\n\n\n-6.2\n\n\n\n%\n\n\n\n+16.7%\n\n+3.1%\n\n\n+9.2%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nGross margin\n\n\n \n\n\n\n40.4\n\n\n\n%\n\n\n\n\n \n\n\n\n42.7\n\n\n\n%\n\n\n\n\n \n\n\n\n39.7\n\n\n\n%\n\n\n\n\n+70 bps\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nOperating income\n\n\n$\n\n\n\n12,577\n\n\n\n \n\n\n\n\n$\n\n\n\n23,699\n\n\n\n \n\n\n\n\n$\n\n\n\n11,254\n\n\n\n \n\n\n\n\...