Press release
Citi Trends Provides Additional COVID-19 Retail Stores and Business Update
SAVANNAH, Ga.--(BUSINESS WIRE)-- Citi Trends, Inc. (NASDAQ: CTRN) today provided an update on additional actions the Company is taking in response to the
About this update from Citi Trends, Inc.
[{"type":"text","content":" SAVANNAH, Ga.--(BUSINESS WIRE)--\nCiti Trends, Inc. (NASDAQ: CTRN) today provided an update on additional actions the Company is taking in response to the coronavirus (COVID-19) pandemic.\n\n\nAt Citi Trends, the health, safety and well-being of our employees, customers and the communities we serve remains our highest priority. With this focus in mind and in accordance with guidelines from the Centers for Disease Control and Prevention (CDC) and the Occupational Safety and Health Administration (OSHA) any reopening of Company stores and facilities will include operating with enhanced health, sanitation, safety and social distancing guidelines for the safety and protection of our employees and customers.\n\n\nThe Company continues to monitor the COVID-19 situation daily and is evaluating plans and timing for the reopening of its stores and distribution centers, which have been closed for approximately six weeks. The Company intends to reopen stores and its centers as soon as practical and when it is deemed safe to do so based on state and local orders in the respective markets. The Company expects the timing for the reopening of its stores to be phased-in over a period of time and largely dependent on state and local orders. As such, as of this past weekend, the Company’s stores in Arkansas have safely reopened with reduced operating hours. The Company will continue to provide updates on its current store operations on the Company’s website (www.cititrends.com).\n\n\n“This situation continues to be very fluid, but we are quickly ramping up our ability to safely resume operations across our chain. We are encouraged by early results in Arkansas and more than anything, our associates are excited to be back at work serving our customers for their apparel, accessory and home needs. As we begin to reopen many stores throughout May and June based on applicable state and local guidance, we will continue to prioritize the health and safety of our employees and customers,” said David Makuen, CEO of Citi Trends.\n\n\nThe Company is also continuing to proactively manage its business with a goal to increase financial flexibility and preserve cash flow in the current environment. The Company announced today that it is extending for an additional sixty days the furlough of substantially all of its store and distribution center personnel and a ...