10-Q Filing

CITI TRENDS INC CIK: 1318484 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-064406`
Period End Date	20140731
Filing Date	20140903
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	ctrn-20140802.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 60 Cash Flow Statement 68

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$161.87M	USD	Point-in-time
Property and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$172.11M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.71M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.60M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$13.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.44M	shares	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$6.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.58M	shares	Point-in-time
Inventory	`InventoryNet`	$126.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Inventory	`InventoryNet`	$120.46M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.82M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.22M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$394.00K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.71M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$223.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$207.76M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $172,112 and $161,868 as of August 2, 2014 and February 1, 2014, respectively	`PropertyPlantAndEquipmentNet`	$51.75M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $172,112 and $161,868 as of August 2, 2014 and February 1, 2014, respectively	`PropertyPlantAndEquipmentNet`	$56.15M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$18.14M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$19.78M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$7.17M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$663.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$686.00K	USD	Point-in-time
Total assets	`Assets`	$301.05M	USD	Point-in-time
Total assets	`Assets`	$291.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.04M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$16.23M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$9.55M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$9.66M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.50M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$515.00K	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$1.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$84.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.06M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.59M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$94.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.44M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,745,478 shares issued as of August 2, 2014 and 15,604,805 shares issued as of February 1, 2014; 15,579,728 shares outstanding as of August 2, 2014 and 15,439,055 outstanding as of February 1, 2014	`CommonStockValue`	$150.00K	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,745,478 shares issued as of August 2, 2014 and 15,604,805 shares issued as of February 1, 2014; 15,579,728 shares outstanding as of August 2, 2014 and 15,439,055 outstanding as of February 1, 2014	`CommonStockValue`	$151.00K	USD	Point-in-time
Paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$82.81M	USD	Point-in-time
Paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$83.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$122.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.07M	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of August 2, 2014 and February 1, 2014	`TreasuryStockValue`	$165.00K	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of August 2, 2014 and February 1, 2014	`TreasuryStockValue`	$165.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$198.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$206.41M	USD	Point-in-time
Commitments and contingencies (note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$291.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$301.05M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$319.65M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$137.82M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$144.99M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$333.00M	USD	2 Qtrs
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$91.54M	USD	1 Quarter
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$202.80M	USD	2 Qtrs
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$88.30M	USD	1 Quarter
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$206.31M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$51.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$107.17M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$103.83M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.11M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$10.27M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.67M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$11.26M	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$654.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$681.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$9.17M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-4.94M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-8.72M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.07M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$135.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$92.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$67.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$39.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$56.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$96.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$49.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$104.00K	USD	2 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.11M	USD	2 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.96M	USD	1 Quarter
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.70M	USD	1 Quarter
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.16M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$442.00K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-3.21M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.38M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.66M	USD	2 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.50M	USD	2 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.49M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.58M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$671.00K	USD	2 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.37	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.44	USD	2 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	2 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	2 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	2 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.37	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.94M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.78M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.97M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.78M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.97M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.95M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.80M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.50M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.49M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.58M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$671.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.11M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$10.27M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.67M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$11.26M	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$654.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$681.00K	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$156.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-40.00K	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$1.77M	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$2.12M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-356.00K	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$332.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-6.04M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-21.07M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.88M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.60M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-25.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-23.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.60M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.19M	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-236.00K	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$184.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$110.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$822.00K	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$2.23M	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$79.00K	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.31M	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.24M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$23.89M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$36.43M	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.94M	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.71M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$8.39M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$11.32M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$5.65M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$5.84M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.51M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.04M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$332.00K	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-356.00K	USD	2 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$583.00K	USD	2 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$1.41M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.08M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-939.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$23.98M	USD	2 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$11.78M	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$70.71M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.24M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$70.71M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$61.24M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$70.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$63.00K	USD	2 Qtrs
Cash payments of income taxes	`IncomeTaxesPaid`	$279.00K	USD	2 Qtrs
Cash payments of income taxes	`IncomeTaxesPaid`	$403.00K	USD	2 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$325.00K	USD	2 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$295.00K	USD	2 Qtrs

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