12/02/2025 - 06:45 AM

2025年12月02日- 上午 06:45

Q3 2025 total sales of $197.1 million with comparable store sales growth of 10.8%; Two-year stack of 16.5%

2025 年第三季度總銷售額為 1.971 億美元， comparable store sales 增長 10.8%；兩年疊加增長 16.5%

Year-to-date total sales of $589.6 million with comparable store sales growth of 10.0%; Two-year stack of 12.3%

截至目前的總銷售額為 5.896 億美元， comparable store sales 增長 10.0%；兩年疊加增長 12.3%

Strengthens off-price leadership with primary African American consumer

在主要非裔美國消費者中鞏固了折扣領導地位

Delivers strong back-to-school performance

實現強勁的返校季表現

Company raises Fiscal 2025 Guidance

公司提高了 2025 財年的指導預期

SAVANNAH, Ga.--(BUSINESS WIRE)--Citi Trends, Inc. (NASDAQ: CTRN), a leading off-price value retailer of apparel, accessories and home trends primarily for African American families in the United States, today reported results for the third quarter ended November 1, 2025. For purposes of comparison, unless otherwise stated, metrics in this release are compared to the 13-week quarter and 39-week year-to-date period ended November 2, 2024.

喬治亞州薩凡納 --（商業新聞）--Citi Trends, Inc.（納斯達克：CTRN），一家主要為美國非裔美國家庭提供服裝、配飾和家居趨勢的領先折扣零售商，今天公佈了截至2025年11月1日的第三季度業績。為了便於比較，除非另有説明，本公告中的指標與截至2024年11月2日的 13 周季度和 39 週年初至今的期間進行比較。

Chief Executive Officer Comments

首席執行官評論

Ken Seipel, Chief Executive Officer, said: “I am pleased to report another quarter of strong results, reflecting disciplined execution and meaningful progress with our strategic transformation. Our third quarter comparable store sales growth of 10.8%, 16.5% on a two-year stack basis, represents our fifth consecutive quarter of positive comp performance, bringing our year-to-date comp to 10.0%, and 12.3% on a two-year stack basis. We’re experiencing broad-based momentum at Citi Trends, with sales growth spanning all store volume groups, geographies, and product categories, highlighting the comprehensive nature of our business improvement. Importantly, increased traffic is driving the majority of our sales growth.

首席執行官 Ken Seipel 表示：“我很高興報告又一個強勁業績的季度，反映了我們在戰略轉型方面的嚴格執行和顯著進展。我們第三季度的 comparable store sales 增長 10.8%，兩年疊加增長 16.5%，這是我們連續第五個季度實現正增長，使得年初至今的 comparable store sales 達到 10.0%，兩年疊加增長 12.3%。我們在 Citi Trends 經歷了廣泛的增長勢頭，銷售增長覆蓋所有店鋪銷售量組、地理區域和產品類別，突顯了我們業務改善的全面性。重要的是，增加的客流量推動了我們大部分的銷售增長。

We delivered a strong back-to-school season fueled by continued momentum in our Children’s, Mens and Basic apparel divisions. We continue to sharpen our product and value for our core customer, and in the quarter we saw strong response to elevated brands and fashion for the Fall, as well as strong response to early holiday assortments late in the quarter. As a result, our sales momentum has continued fourth quarter to date. I’m also excited to announce that this holiday season we are launching the rebranded Citi Trends “Joy Looks Good on You” campaign and updated social media presence under the “@wearecititrends” tagline.

我們在返校季實現了強勁的表現，得益於我們兒童、男裝和基礎服裝部門的持續勢頭。我們繼續為核心客户提升產品和價值，在本季度我們看到對秋季高端品牌和時尚的強烈反響，以及對季度末早期假日商品的強烈反響。因此，我們的銷售勢頭持續到第四季度。我還很高興地宣佈，在這個假日季節，我們將推出重新品牌的 Citi Trends“Joy Looks Good on You” 宣傳活動，並在 “@wearecititrends” 標籤下更新社交媒體形象。

Moving ahead, we remain committed to enhancing our operational processes and strengthening our capabilities as we work to capture the substantial growth opportunities before us. We have established a clear line of sight to achieve approximately $45 million of EBITDA* in fiscal 2027, which would represent a $60 million improvement from 2024 levels. While we’re in the early stages of what I believe will be a compelling transformation, we have built a definitive, actionable and internally controllable plan to accelerate shareholder value creation over the next few years.”

展望未來，我們仍然致力於提升我們的運營流程和增強我們的能力，以抓住眼前的巨大增長機會。我們已經建立了清晰的視野，預計到 2027 財年實現約 4500 萬美元的 EBITDA*，這將比 2024 年的水平改善 6000 萬美元。雖然我們處於我認為將是一個引人注目的轉型的早期階段，但我們已經制定了一個明確、可行且內部可控的計劃，以加速未來幾年的股東價值創造。”

Financial Highlights – Third Quarter 2025

財務亮點 – 2025 年第三季度

Total sales of $197.1 million increased $18.0 million, or 10.1% vs. Q3 2024; comparable store sales increased 10.8% compared to Q3 2024 driven by increases in traffic, basket and conversion, reflecting the impact of the three-tiered merchandise assortment, including more trendy product, off-price deals and more branded extreme value product.
Gross margin of 38.9%, consistent with internal operating plan, declined 90 basis points compared to Q3 2024. Q3 2025 included product margins consistent with first half ’25 performance and the pull-forward of freight expense from Q4 to balance holiday workload in the distribution centers. Prior year period results were positively impacted by low markdowns and shrink following last year’s Q2 strategic inventory reset, that ultimately jump started the Company’s top line turn-around.
SG&A expense of $79.3 million, or $79.5 million as adjusted*, vs. Q3 2024 SG&A expense of $74.7 million, or $74.6 million as adjusted*, reflecting the costs to process higher sales and $3.2 million of incremental incentive compensation from improved financial performance. On a rate basis, adjusted SG&A expenses levered 130 basis points compared to Q3 2024.
Net loss of $6.9 million, or adjusted net loss* of $7.1 million, vs. net loss of $7.2 million, or adjusted net loss* of $6.5 million in Q3 2024.
Adjusted EBITDA* loss of $2.9 million vs. adjusted EBITDA* loss of $3.3 million in Q3 2024.
Real Estate: Remodeled 24 stores and opened 3 stores in the quarter, ending the period with 593 locations.
Cash of $51.1 million at quarter-end, with no debt and no borrowings under a $75 million credit facility.
Merchandise inventory was $123.5 million at the end of the quarter, a decrease of 3.1% vs. Q3 2024, with average store inventory up 4.5% vs. last year, reflecting revised timing of pre-holiday product deliveries.

總銷售額 為 1.971 億美元，比 2024 年第三季度增加 1800 萬美元，增長 10.1%；可比店銷售 比 2024 年第三季度增長 10.8%，主要受客流量、購物籃和轉化率增加的推動，反映了三層商品組合的影響，包括更多時尚產品、折扣交易和更多品牌極具價值的產品。
毛利率 為 38.9%，與內部運營計劃一致，較 2024 年第三季度下降 90 個基點。2025 年第三季度的產品毛利與 2025 年上半年的表現一致，並將運費支出從第四季度提前，以平衡配送中心的假日工作負載。去年同期的結果受到低折扣和減少損耗的積極影響，去年第二季度的戰略庫存重置最終啓動了公司的銷售回暖。
SG&A 費用為 7930 萬美元，或調整後的 7950 萬美元，與 2024 年第三季度的 SG&A 費用 7470 萬美元，或調整後的 7460 萬美元相比，反映了處理更高銷售額的成本和來自財務表現改善的 320 萬美元的額外激勵補償。從比率上看，調整後的 SG&A 費用較 2024 年第三季度提高了 130 個基點。
淨虧損 為 690 萬美元，或調整後的淨虧損 * 為 710 萬美元，較 2024 年第三季度的淨虧損 720 萬美元，或調整後的淨虧損 *650 萬美元有所改善。
調整後的 EBITDA* 虧損為 290 萬美元，較 2024 年第三季度的調整後 EBITDA* 虧損 330 萬美元有所改善。
房地產：本季度翻新了 24 家門店，開設了 3 家新店，期末共 593 個門店。
現金為 5110 萬美元，期末無債務且未在 7500 萬美元的信貸額度下借款。
商品庫存 在季度末為 1.235 億美元，較 2024 年第三季度下降 3.1%，平均門店庫存較去年上升 4.5%，反映了假日商品交付時間的調整。

Financial Highlights – 39 weeks ended November 1, 2025

財務亮點 – 截至2025年11月1日的 39 周

Total sales of $589.6 million increased $47.7 million, or 8.8% vs. 2024; comparable store sales increased 10.0% to 2024, 12.3% on a two-year basis
Net loss of $2.2 million, including the $11.0 million gain on the sale of the Savannah office building in Q2 2025, or adjusted net loss* of $12.5 million, vs. net loss of $29.0 million, or adjusted net loss* of $25.2 million in 2024.
Adjusted EBITDA* loss of $0.1 million compared to adjusted EBITDA* loss of $21.3 million in 2024. Adjusted EBITDA* improvement of $21.2 million to last year driven by higher sales, 290 basis point increase in gross margin rate and 100 basis points of adjusted SG&A leverage, including the impact of higher incentive compensation accruals.

總銷售額 為 5.896 億美元，比 2024 年增加 4770 萬美元，增長 8.8%；可比店銷售 比 2024 年增長 10.0%，兩年疊加增長 12.3%
淨虧損 為 220 萬美元，包括 2025 年第二季度出售薩凡納辦公樓的 1100 萬美元收益，或調整後的淨虧損 * 為 1250 萬美元，較 2024 年的淨虧損 2900 萬美元，或調整後的淨虧損 *2520 萬美元有所改善。
調整後的 EBITDA* 虧損為 10 萬美元，較 2024 年的調整後 EBITDA* 虧損 2130 萬美元有所改善。調整後的 EBITDA* 較去年改善 2120 萬美元，主要得益於銷售增長、毛利率提高 290 個基點和 SG&A 調整槓桿 100 個基點，包括更高激勵補償的影響。

Fiscal 2025 Outlook

2025 財年展望

The Company is updating its fiscal 2025 outlook as follows:

公司更新其 2025 財年展望如下：

Expecting full year comparable store sales to be up high-single digits, on the high end of previous outlook
Full year gross margin is expected to expand approximately 230 basis points vs. 2024, on the high end of previous outlook
SG&A is expected to leverage approximately 90 basis points vs. 2024, on the high end of previous outlook
Full year EBITDA* is now expected to be in the range of $10 million to $12 million, above previous outlook, a $24 million to $26 million improvement vs. 2024
Expecting 2025 effective tax rate of approximately 0%, consistent with previous outlook
For the year, the Company will open 3 new stores and remodel 62 stores, consistent with previous outlook. The Company will close 4 locations, above the previous outlook of 3 closures
Full year capital expenditures are now expected to be approximately $23 million, on the lower end of previous outlook

預計全年可比門店銷售將增長高單位數，處於之前預期的高端
預計全年毛利率將比 2024 年擴大約 230 個基點，處於之前預期的高端
預計銷售和管理費用將比 2024 年槓桿約 90 個基點，處於之前預期的高端
預計全年 EBITDA* 將在 1000 萬到 1200 萬美元之間，高於之前預期，比 2024 年改善 2400 萬到 2600 萬美元
預計 2025 年有效税率約為 0%，與之前預期一致
今年，公司將開設 3 家新店，並改造 62 家門店，與之前預期一致。公司將關閉 4 個地點，高於之前預期的 3 個關閉
預計全年資本支出約為 2300 萬美元，處於之前預期的低端

While the Company does not provide quarterly guidance, given where it is in its fiscal year, it is offering the following comments about the fourth quarter of fiscal 2025:

雖然公司不提供季度指導，但鑑於其財年進展，現就 2025 財年第四季度提供以下評論：

Q4 comparable store sales are expected to be up high-single digits
Q4 gross margin is expected to be in the range of 40% to 41%
SG&A is expected to be approximately $82 million
Q4 EBITDA* is expected to be in the range of $10 million to $12 million

第四季度可比門店銷售預計將增長高單位數
第四季度毛利率預計將在 40% 到 41% 之間
銷售和管理費用預計約為 8200 萬美元
第四季度 EBITDA* 預計將在 1000 萬到 1200 萬美元之間

Investor Conference Call and Webcast

投資者電話會議和網絡直播

Citi Trends will host a conference call today at 9:00 a.m. ET. The live broadcast of Citi Trends’ conference call will be available online at the Company’s website, cititrends.com, under the Investor Relations section, beginning today at 9:00 a.m. ET. The online replay will follow shortly after the call and will be available for replay for one year.

Citi Trends 將於今天上午 9:00（東部時間）召開電話會議。Citi Trends 電話會議的現場直播將在公司網站 cititrends.com 的投資者關係部分提供，今天上午 9:00（東部時間）開始。在線重播將在會議結束後不久提供，並可重播一年。

The live conference call can also be accessed by dialing (877) 407-0779. A replay of the conference call will be available until December 9, 2025, by dialing (844) 512-2921 and entering the passcode, 13756478.

可以撥打 (877) 407-0779 訪問現場直播電話會議。電話會議的重播將持續到2025年12月9日，撥打 (844) 512-2921 並輸入密碼 13756478 即可收聽重播。

During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends that have occurred after quarter-end. The Company’s responses to questions, as well as other matters discussed during the call, may contain or constitute information that has not been disclosed previously.

在電話會議期間，公司可能會討論並回答有關季度結束後發生的業務和財務發展及趨勢的問題。公司的回答以及會議期間討論的其他事項可能包含或構成未曾披露的信息。

*Non-GAAP Financial Measures

* 非 GAAP 財務指標

The historical non-GAAP financial measures discussed herein are reconciled to their corresponding GAAP measures at the end of this press release. The Company is unable to provide a full reconciliation of the forward-looking non-GAAP financial measures above without unreasonable effort because it is not possible to predict certain of the adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of the Company’ control and its unavailability could have a significant impact on its financial results.

本文討論的歷史非 GAAP 財務指標在本新聞稿末尾與其對應的 GAAP 指標進行了對賬。公司無法在不付出不合理努力的情況下提供上述前瞻性非 GAAP 財務指標的完整對賬，因為無法以合理的確定性預測某些調整項目。這些信息依賴於未來事件，可能超出公司的控制範圍，其不可用性可能對公司的財務結果產生重大影響。

About Citi Trends

關於 Citi Trends

Citi Trends, Inc. is a leading off-price value retailer of apparel, accessories and home trends primarily for African American families in the United States. The Company operates 593 stores located in 33 states. For more information, visit cititrends.com or your local store.

Citi Trends, Inc. 是一家領先的折扣價值零售商，主要為美國的非裔美國家庭提供服裝、配飾和家居趨勢。公司在 33 個州運營 593 家門店。欲瞭解更多信息，請訪問 cititrends.com 或您當地的門店。

Forward-Looking Statements

前瞻性聲明

All statements other than historical facts contained in this news release, including statements regarding the Company’s future financial results and position, business policy and plans, objectives and expectations of management for future operations and capital allocation expectations, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that are subject to material risks and uncertainties. The words “believe,” “may,” “could,” “plans,” “estimate,” “expects,” “continue,” “anticipate,” “intend,” “expect,” “upcoming,” “trend” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements, although not all forward-looking statements contain such language. Statements with respect to earnings, sales or new store guidance are forward-looking statements. Investors are cautioned that any such forward-looking statements are subject to the finalization of the Company’s quarter-end financial and accounting procedures, are not guarantees of future performance or results, and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Actual results or developments may differ materially from those included in the forward-looking statements as a result of various factors which are discussed in our Annual Reports and Quarterly Reports on Forms 10-K and 10-Q, respectively, and any amendments thereto, filed with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, uncertainties relating to general economic conditions, including inflation, energy and fuel costs, unemployment levels, and any deterioration whether caused by acts of war, terrorism, political or social unrest (including any resulting store closures, damage or loss of inventory) or other factors; changes in market interest rates and market levels of wages; the imposition of new taxes on imports, new tariffs and changes in existing tariff rates; the imposition of new trade restrictions and changes in existing trade restrictions; impacts of natural disasters such as hurricanes; uncertainty and economic impact of pandemics, epidemics or other public health emergencies; transportation and distribution delays or interruptions; changes in freight rates; the Company’s ability to attract and retain workers; the Company’s ability to negotiate effectively the cost and purchase of merchandise inventory risks due to shifts in market demand and to manage inventory shrinkage; the Company’s ability to gauge fashion trends and changing consumer preferences; consumer confidence and changes in consumer spending patterns; competition within the industry; competition in the Company’s markets; the duration and extent of any economic stimulus programs; changes in product mix; interruptions in suppliers’ businesses; risks related to cybersecurity, data privacy and intellectual property; temporary changes in demand due to weather patterns; seasonality of the Company’s business; the results of pending or threatened litigation; delays associated with building, remodeling, opening and operating new stores; and delays associated with building, and opening or expanding new or existing distribution centers. Any forward-looking statements by the Company, with respect to guidance, the repurchase of shares pursuant to a share repurchase program, or otherwise, are intended to speak only as of the date such statements are made. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company does not undertake to publicly update any forward-looking statements in this news release or with respect to matters described herein, whether as a result of any new information, future events or otherwise.

本新聞稿中除歷史事實外的所有聲明，包括關於公司未來財務業績和狀況、商業政策和計劃、管理層對未來運營和資本配置預期的目標和期望的聲明，均為 1995 年《私人證券訴訟改革法案》所定義的前瞻性聲明，受重大風險和不確定性的影響。與公司相關的 “相信”、“可能”、“能夠”、“計劃”、“估計”、“預期”、“繼續”、“預期”、“打算”、“期待”、“即將”、“趨勢” 等類似表達，旨在識別前瞻性聲明，儘管並非所有前瞻性聲明都包含此類語言。關於收益、銷售或新店指導的聲明均為前瞻性聲明。投資者應注意，任何此類前瞻性聲明均受公司季度末財務和會計程序最終確定的影響，並不保證未來的業績或結果，且本質上受到風險和不確定性的影響，其中一些無法預測或量化。實際結果或發展可能因各種因素而與前瞻性聲明中包含的內容有重大差異，這些因素在我們提交給證券交易委員會的年度報告和季度報告（10-K 和 10-Q 表格）及其任何修訂中進行了討論。這些風險和不確定性包括但不限於與一般經濟狀況相關的不確定性，包括通貨膨脹、能源和燃料成本、失業水平，以及由於戰爭、恐怖主義、政治或社會動盪（包括由此導致的商店關閉、庫存損失或損壞）或其他因素造成的任何惡化；市場利率和工資水平的變化；對進口的新税、新關税和現有關税率的變化；新貿易限制的實施和現有貿易限制的變化；自然災害（如颶風）的影響；疫情、流行病或其他公共衞生緊急情況的不確定性和經濟影響；運輸和分配延誤或中斷；運費變化；公司吸引和留住員工的能力；公司有效談判商品庫存成本和採購的能力，因市場需求變化而導致的庫存風險以及管理庫存損失的能力；公司對時尚趨勢和消費者偏好的變化的判斷能力；消費者信心和消費支出模式的變化；行業內的競爭；公司市場的競爭；任何經濟刺激計劃的持續時間和範圍；產品組合的變化；供應商業務中斷的風險；與網絡安全、數據隱私和知識產權相關的風險；由於天氣模式導致的需求臨時變化；公司業務的季節性；待決或威脅訴訟的結果；與新店的建設、改造、開業和運營相關的延誤；以及與新或現有配送中心的建設、開業或擴展相關的延誤。公司關於指導、根據股票回購計劃回購股份或其他方面的任何前瞻性聲明，旨在僅在作出該聲明的日期生效。除適用法律（包括美國證券法和證券交易委員會的規則和規定）要求外，公司不承諾公開更新本新聞稿中的任何前瞻性聲明或與此處描述的事項相關的聲明，無論是由於任何新信息、未來事件還是其他原因。


CITI TRENDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(in thousands, except per share data)

	Third Quarter
		2025			2024			2023
Net sales	$	197,091		$	179,066		$	179,520

Cost of sales (exclusive of depreciation shown separately below)		(120,462	)		(107,833	)		(110,942	)
Selling, general and administrative expenses		(79,346	)		(74,730	)		(69,654	)
Depreciation		(4,627	)		(4,755	)		(4,749	)
Asset impairment		—			(574	)		(178	)
Income (loss) from operations		(7,344	)		(8,826	)		(6,003	)
Interest income		541			482			894
Interest expense		(91	)		(79	)		(76	)
Income (loss) before income taxes		(6,894	)		(8,423	)		(5,185	)
Income tax benefit		—			1,271			1,322
Net income (loss)	$	(6,894	)	$	(7,152	)	$	(3,863	)

Basic net income (loss) per common share	$	(0.86	)	$	(0.86	)	$	(0.47	)
Diluted net income (loss) per common share	$	(0.86	)	$	(0.86	)	$	(0.47	)

Weighted average number of shares outstanding
Basic		8,050			8,356			8,238
Diluted		8,050			8,356			8,238


	Thirty-Nine Weeks Ended
	November 1, 2025		November 2, 2024	October 28, 2023
	(unaudited)		(unaudited)	(unaudited)

Net sales	$	589,569		$	541,907		$	532,762

Cost of sales (exclusive of depreciation shown separately below)		(356,857	)		(343,710	)		(331,827	)
Selling, general and administrative expenses		(233,138	)		(222,721	)		(210,004	)
Depreciation		(13,545	)		(14,331	)		(14,138	)
Asset impairment		(327	)		(1,835	)		(178	)
Gain on sale of building		10,960			—			—
Income (loss) from operations		(3,338	)		(40,690	)		(23,385	)
Interest income		1,388			1,942			2,804
Interest expense		(255	)		(238	)		(228	)
Income (loss) before income taxes		(2,205	)		(38,986	)		(20,809	)
Income tax benefit		—			9,995			5,279
Net income (loss)	$	(2,205	)	$	(28,991	)	$	(15,530	)

Basic net income (loss) per common share	$	(0.27	)	$	(3.49	)	$	(1.89	)
Diluted net income (loss) per common share	$	(0.27	)	$	(3.49	)	$	(1.89	)

Weighted average number of shares outstanding
Basic		8,039			8,315			8,215
Diluted		8,039			8,315			8,215


CITI TRENDS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)


	November 1, 2025		November 2, 2024
Assets:
Cash and cash equivalents	$	51,098		$	38,872
Inventory		123,536			127,514
Prepaid and other current assets		17,458			16,726
Property and equipment, net		53,161			48,878
Operating lease right of use assets		217,187			218,899
Deferred tax assets		—			15,301
Other noncurrent assets		1,820			886
Total assets	$	464,260		$	467,076

Liabilities and Stockholders' Equity:
Accounts payable	$	97,986		$	82,791
Current operating lease liabilities		43,585			49,390
Accrued liabilities		36,268			25,837
Other current liabilities		2,008			1,548
Noncurrent operating lease liabilities		174,453			175,767
Other noncurrent liabilities		2,130			1,473
Total liabilities		356,430			336,806

Total stockholders' equity		107,830			130,270
Total liabilities and stockholders' equity	$	464,260		$	467,076


CITI TRENDS, INC.
簡明合併經營報表（未經審計）
（以千為單位，除每股數據外）

	第三季度
		2025			2024			2023
淨銷售額	$	197,091		$	179,066		$	179,520

銷售成本（不包括單獨列示的折舊）		(120,462	)		(107,833	)		(110,942	)
銷售、一般和行政費用		(79,346	)		(74,730	)		(69,654	)
折舊		(4,627	)		(4,755	)		(4,749	)
資產減值		—			(574	)		(178	)
經營收入（損失）		(7,344	)		(8,826	)		(6,003	)
利息收入		541			482			894
利息支出		(91	)		(79	)		(76	)
税前收入（損失）		(6,894	)		(8,423	)		(5,185	)
所得税收益		—			1,271			1,322
淨收入（損失）	$	(6,894	)	$	(7,152	)	$	(3,863	)

每普通股基本淨收入（損失）	$	(0.86	)	$	(0.86	)	$	(0.47	)
每普通股稀釋淨收入（損失）	$	(0.86	)	$	(0.86	)	$	(0.47	)

加權平均流通股數
基本		8,050			8,356			8,238
稀釋		8,050			8,356			8,238


	截至 39 周
	2025年11月1日		2024年11月2日	2023年10月28日
	（未經審計）		（未經審計）	（未經審計）

淨銷售額	$	589,569		$	541,907		$	532,762

銷售成本（不包括單獨列示的折舊）		(356,857	)		(343,710	)		(331,827	)
銷售、一般和行政費用		(233,138	)		(222,721	)		(210,004	)
折舊		(13,545	)		(14,331	)		(14,138	)
資產減值		(327	)		(1,835	)		(178	)
建築出售收益		10,960			—			—
經營收入（損失）		(3,338	)		(40,690	)		(23,385	)
利息收入		1,388			1,942			2,804
利息支出		(255	)		(238	)		(228	)
税前收入（損失）		(2,205	)		(38,986	)		(20,809	)
所得税收益		—			9,995			5,279
淨收入（損失）	$	(2,205	)	$	(28,991	)	$	(15,530	)

每普通股基本淨收入（損失）	$	(0.27	)	$	(3.49	)	$	(1.89	)
每普通股稀釋淨收入（損失）	$	(0.27	)	$	(3.49	)	$	(1.89	)

加權平均流通股數
基本		8,039			8,315			8,215
稀釋		8,039			8,315			8,215


CITI TRENDS, INC.
簡明合併資產負債表（未經審計）


	2025年11月1日		2024年11月2日
資產：
現金及現金等價物	$	51,098		$	38,872
存貨		123,536			127,514
預付及其他流動資產		17,458			16,726
財產及設備，淨額		53,161			48,878
租賃使用權資產		217,187			218,899
遞延所得税資產		—			15,301
其他非流動資產		1,820			886
資產總計	$	464,260		$	467,076

負債及股東權益：
應付賬款	$	97,986		$	82,791
當前租賃負債		43,585			49,390
應計負債		36,268			25,837
其他流動負債		2,008			1,548
非流動租賃負債		174,453			175,767
其他非流動負債		2,130			1,473
負債總計		356,430			336,806

股東權益總計		107,830			130,270
負債及股東權益總計	$	464,260		$	467,076


CITI TRENDS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
(in thousands, except per share data)

The Company sometimes uses financial measures that are derived from the consolidated financial statements but that are not presented in accordance with GAAP to understand and evaluate the Company’s current operating performance and to allow for period-to-period comparisons. The Company believes these non-GAAP financial measures may also provide useful information to investors and others. These non-GAAP measures may not be comparable to similarly titled non-GAAP measures of other companies and should be considered in addition to and not as a substitute for or superior to, any measure of performance, cash flow or liquidity prepared in accordance with GAAP. The Company is providing a reconciliation of reported non-GAAP financial measures to their comparable financial measures on a GAAP basis.

	Third Quarter
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted SG&A
SG&A	$	(79,346	)	$	(74,730	)
CEO transition expenses2		—			121
Cyber incident expenses3		(195	)		—
Shareholder matters4		—			44
Adjusted SG&A	$	(79,541	)	$	(74,565	)

	Third Quarter
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted Net Income (Loss)
Net loss	$	(6,894	)	$	(7,152	)
Asset impairment		—			574
CEO transition expenses2		—			121
Cyber incident expenses3		(195	)		—
Shareholder matters4		—			44
Tax effect		—			(111	)
Adjusted net loss	$	(7,089	)	$	(6,524	)

	Third Quarter
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted EBITDA
Net loss	$	(6,894	)	$	(7,152	)
Interest income		(541	)		(482	)
Interest expense		91			79
Income tax benefit		—			(1,271	)
Depreciation		4,627			4,755
Asset impairment		—			574
CEO transition expenses2		—			121
Cyber incident expenses3		(195	)		—
Shareholder matters4		—			44
Adjusted EBITDA	$	(2,912	)	$	(3,332	)


	Thirty-Nine Weeks Ended
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted SG&A
SG&A	$	(233,138	)	$	(222,721	)
Lease termination fee5		390			—
Severance1		388			—
Shareholder matters4		146			1,695
Cyber incident expenses3		(597	)		36
CEO transition expenses2		—			1,479
Adjusted SG&A	$	(232,811	)	$	(219,511	)

	Thirty-Nine Weeks Ended
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted Net income (loss)
Net loss	$	(2,205	)	$	(28,991	)
Gain on sale of building		(10,960	)		—
Asset impairment		327			1,835
Lease termination fee5		390			—
Severance1		388			—
Shareholder matters4		146			1,695
Cyber incident expenses3		(597	)		36
CEO transition expenses2		—			1,479
Tax effect		—			(1,293	)
Adjusted net loss	$	(12,511	)	$	(25,239	)

	Thirty-Nine Weeks Ended
	November 1, 2025		November 2, 2024
Reconciliation of Adjusted EBITDA
Net loss	$	(2,205	)	$	(28,991	)
Interest income		(1,388	)		(1,942	)
Interest expense		255			238
Income tax benefit		—			(9,995	)
Depreciation		13,545			14,331
Gain on sale of building		(10,960	)		—
Asset impairment		327			1,835
Lease termination fee5		390			—
Severance1		388			—
Shareholder matters4		146			1,695
Cyber incident expenses3		(597	)		36
CEO transition expenses2		—			1,479
Adjusted EBITDA	$	(99	)	$	(21,314	)

1 Represents severance and related costs resulting from the CEO transition and subsequent implementation of CEO-led organizational changes.
2 Represents costs associated with the hiring of a new CEO.
3 Represents costs associated with the cyber disruption of the Company's back office and distribution center IT systems in January 2023.
4 Represents costs related to requests and inquiries from a significant shareholder.
5 Represents a lease termination fee associated with the closure of a store.


CITI TRENDS, INC.
非公認會計原則財務指標的調節（未經審計）
（以千為單位，除每股數據外）

公司有時使用從合併財務報表中得出的財務指標，但這些指標並未按照公認會計原則（GAAP）呈現，以理解和評估公司的當前運營表現，並允許進行期間比較。公司認為這些非 GAAP 財務指標也可能為投資者和其他人提供有用的信息。這些非 GAAP 指標可能無法與其他公司的類似非 GAAP 指標進行比較，並應作為補充，而不是替代或優於任何按照 GAAP 編制的業績、現金流或流動性指標。公司提供了報告的非 GAAP 財務指標與其可比的 GAAP 基礎財務指標的調節。

	第三季度
	2025年11月1日		2024年11月2日
調整後的銷售和管理費用調節
銷售和管理費用	$	(79,346	)	$	(74,730	)
首席執行官過渡費用 2		—			121
網絡事件費用 3		(195	)		—
股東事務 4		—			44
調整後的銷售和管理費用	$	(79,541	)	$	(74,565	)

	第三季度
	2025年11月1日		2024年11月2日
調整後的淨收入（損失）調節
淨損失	$	(6,894	)	$	(7,152	)
資產減值		—			574
首席執行官過渡費用 2		—			121
網絡事件費用 3		(195	)		—
股東事務 4		—			44
税收影響		—			(111	)
調整後的淨損失	$	(7,089	)	$	(6,524	)

	第三季度
	2025年11月1日		2024年11月2日
調整後的息税折舊攤銷前利潤（EBITDA）調節
淨損失	$	(6,894	)	$	(7,152	)
利息收入		(541	)		(482	)
利息費用		91			79
所得税收益		—			(1,271	)
折舊		4,627			4,755
資產減值		—			574
首席執行官過渡費用 2		—			121
網絡事件費用 3		(195	)		—
股東事務 4		—			44
調整後的 EBITDA	$	(2,912	)	$	(3,332	)


	截至 39 周
	2025年11月1日		2024年11月2日
調整後的銷售和管理費用調節
銷售和管理費用	$	(233,138	)	$	(222,721	)
租賃終止費用 5		390			—
解僱費用 1		388			—
股東事務 4		146			1,695
網絡事件費用 3		(597	)		36
首席執行官過渡費用 2		—			1,479
調整後的銷售和管理費用	$	(232,811	)	$	(219,511	)

	截至 39 周
	2025年11月1日		2024年11月2日
調整後的淨收入（損失）調節
淨損失	$	(2,205	)	$	(28,991	)
建築物出售收益		(10,960	)		—
資產減值		327			1,835
租賃終止費用 5		390			—
解僱費用 1		388			—
股東事務 4		146			1,695
網絡事件費用 3		(597	)		36
首席執行官過渡費用 2		—			1,479
税收影響		—			(1,293	)
調整後的淨損失	$	(12,511	)	$	(25,239	)

	截至 39 周
	2025年11月1日		2024年11月2日
調整後的 EBITDA 調節
淨損失	$	(2,205	)	$	(28,991	)
利息收入		(1,388	)		(1,942	)
利息費用		255			238
所得税收益		—			(9,995	)
折舊		13,545			14,331
建築物出售收益		(10,960	)		—
資產減值		327			1,835
租賃終止費用 5		390			—
解僱費用 1		388			—
股東事務 4		146			1,695
網絡事件費用 3		(597	)		36
首席執行官過渡費用 2		—			1,479
調整後的 EBITDA	$	(99	)	$	(21,314	)

1 代表因首席執行官過渡及隨後的首席執行官主導的組織變更而產生的解僱及相關費用。
2 代表與新首席執行官的聘用相關的費用。
3 代表與 2023 年 1 月公司後台和配送中心 IT 系統的網絡中斷相關的費用。
4 代表與重要股東的請求和詢問相關的費用。
5 代表與關閉商店相關的租賃終止費用。

View source version on businesswire.com: https://www.businesswire.com/news/home/20251202154060/en/

在 businesswire.com 上查看源版本：https://www.businesswire.com/news/home/20251202154060/en/

Tom Filandro

湯姆·菲蘭德羅

ICR, Inc.

CitiTrendsIR@icrinc.com

Source: Citi Trends, Inc.

來源：Citi Trends, Inc.

Citi Trends 公佈 2025 財年第三季度業績 | CTRN 股票新聞