10-Q Filing

CITI TRENDS INC CIK: 1318484 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-048828`
Period End Date	20110731
Filing Date	20110826
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	ctrn-20110730.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 62 Cash Flow Statement 66

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$94.63M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$107.51M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.15M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.98M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.64M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.82M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.99M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$586.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Inventory	`InventoryNet`	$121.43M	USD	Point-in-time
Inventory	`InventoryNet`	$122.31M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.24M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.44M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.25M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$524.00K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.16M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.91M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$1.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$207.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$191.07M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $107,511 and $94,630 as of July 30, 2011 and January 29, 2011, respectively	`PropertyPlantAndEquipmentNet`	$85.30M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $107,511 and $94,630 as of July 30, 2011 and January 29, 2011, respectively	`PropertyPlantAndEquipmentNet`	$94.13M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$19.97M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$9.21M	USD	Point-in-time
Goodwill	`Goodwill`	$1.37M	USD	Point-in-time
Goodwill	`Goodwill`	$1.37M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$2.00M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$2.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$608.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$629.00K	USD	Point-in-time
Total assets	`Assets`	$309.84M	USD	Point-in-time
Total assets	`Assets`	$306.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$61.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$67.93M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$17.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.59M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$8.60M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$9.38M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$1.67M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$444.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$90.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.56M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$10.75M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$10.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$101.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$101.15M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,148,221 shares issued as of July 30, 2011 and 14,989,535 shares issued as of January 29, 2011; 14,982,471 shares outstanding as of July 30, 2011 and 14,823,785 outstanding as of January 29, 2011	`CommonStockValue`	$147.00K	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,148,221 shares issued as of July 30, 2011 and 14,989,535 shares issued as of January 29, 2011; 14,982,471 shares outstanding as of July 30, 2011 and 14,823,785 outstanding as of January 29, 2011	`CommonStockValue`	$148.00K	USD	Point-in-time
Paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$76.98M	USD	Point-in-time
Paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$78.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$129.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$127.85M	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of July 30, 2011 and January 29, 2011	`TreasuryStockValue`	$165.00K	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of July 30, 2011 and January 29, 2011	`TreasuryStockValue`	$165.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$204.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$208.69M	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$309.84M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$306.40M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$129.04M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$310.45M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$319.40M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$130.23M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$86.78M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$189.78M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$80.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$200.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$120.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$43.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$48.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$118.52M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$101.76M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$92.88M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$44.43M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$50.69M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.52M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.94M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.35M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.61M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.61M	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-15.20M	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$18.27M	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-915.00K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$3.22M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$44.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$99.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$65.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$119.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$6.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$10.00K	USD	2 Qtrs
Income (Loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.36M	USD	2 Qtrs
Income (Loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.14M	USD	1 Quarter
Income (Loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.33M	USD	2 Qtrs
Income (Loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-876.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-5.11M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-309.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$6.48M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.26M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$2.06M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-10.03M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$11.88M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-567.00K	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.69	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.82	USD	2 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	2 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.69	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.82	USD	2 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.60M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.52M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.57M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.49M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.51M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.52M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.59M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.60M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.06M	USD	2 Qtrs
Net income	`ProfitLoss`	$-10.03M	USD	1 Quarter
Net income	`ProfitLoss`	$11.88M	USD	2 Qtrs
Net income	`ProfitLoss`	$-567.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.52M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.94M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.35M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.61M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.61M	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-216.00K	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-143.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$79.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-617.00K	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$1.64M	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$1.64M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.50M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$847.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$6.68M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$881.00K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.11M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.80M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$21.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$45.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.76M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.38M	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.13M	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$780.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-332.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$780.00K	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-2.88M	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-4.27M	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.23M	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.26M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.13M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.47M	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$835.00K	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$33.02M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$3.15M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$11.01M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$18.08M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$23.21M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$11.79M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.39M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$847.00K	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.50M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$216.00K	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.00K	USD	2 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$-996.00K	USD	2 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$-685.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$716.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$184.00K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.73M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.64M	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.50M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.64M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.99M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$49.50M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$84.64M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$62.99M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$-4.06M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$-11.37M	USD	2 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$794.00K	USD	2 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.22M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.