10-Q Filing

CITI TRENDS INC CIK: 1318484 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-085224`
Period End Date	20141031
Filing Date	20141208
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	ctrn-20141101.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 62 Cash Flow Statement 72

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$176.83M	USD	Point-in-time
Property and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$161.87M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.59M	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$13.99M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$6.00M	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
Inventory	`InventoryNet`	$126.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.59M	shares	Point-in-time
Inventory	`InventoryNet`	$128.52M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.04M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.22M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	165,750.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$394.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$755.00K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.71M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$207.76M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $176,883 and $161,868 as of November 1, 2014 and February 1, 2014, respectively	`PropertyPlantAndEquipmentNet`	$56.15M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $176,883 and $161,868 as of November 1, 2014 and February 1, 2014, respectively	`PropertyPlantAndEquipmentNet`	$49.76M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$24.04M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$19.78M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.35M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$686.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$651.00K	USD	Point-in-time
Total assets	`Assets`	$291.31M	USD	Point-in-time
Total assets	`Assets`	$307.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.48M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$17.37M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$13.48M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$9.55M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$2.36M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$515.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$84.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$96.68M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.69M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$102.93M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,752,907 shares issued as of November 1, 2014 and 15,604,805 shares issued as of February 1, 2014; 15,587,157 shares outstanding as of November 1, 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; 15,752,907 shares issued as of November 1, 2014 and 15,604,805 shares issued as of February 1, 2014; 15,587,157 shares outstanding as of November 1, 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`	$84.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$120.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.07M	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of November 1, 2014 and February 1, 2014	`TreasuryStockValue`	$165.00K	USD	Point-in-time
Treasury stock, at cost; 165,750 shares as of November 1, 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`	$205.02M	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`	$307.95M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$489.70M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$465.01M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$145.36M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$156.69M	USD	1 Quarter
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$92.07M	USD	1 Quarter
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$304.85M	USD	3 Qtrs
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$294.88M	USD	3 Qtrs
Cost of sales (exclusive of depreciatoin shown separately below)	`CostOfGoodsSold`	$98.54M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$163.53M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$52.15M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$56.35M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$155.98M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$15.31M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.45M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$16.72M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.04M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	3 Qtrs
Asset impairment	`AssetImpairmentCharges`	$556.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.24M	USD	3 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Gain (Loss) on Sale of Former Distribution Center	`GainLossOnSaleOfFormerDistributionCenter`	$1.53M	USD	1 Quarter
Gain (Loss) on Sale of Former Distribution Center	`GainLossOnSaleOfFormerDistributionCenter`	$1.53M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-3.24M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-2.27M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$5.93M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-3.34M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$78.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$43.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$135.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$213.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$152.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$48.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$145.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$49.00K	USD	1 Quarter
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.92M	USD	3 Qtrs
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.20M	USD	3 Qtrs
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.25M	USD	1 Quarter
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.31M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$1.62M	USD	3 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-1.64M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-1.20M	USD	3 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-1.04M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.00M	USD	3 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.29M	USD	3 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.67M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.21M	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	3 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	3 Qtrs
Basic net income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	3 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.07	USD	3 Qtrs
Diluted net income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.79M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.82M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.98M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.95M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.98M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.79M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.82M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.98M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.00M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.29M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.67M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.21M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$15.31M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.45M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$16.72M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$5.04M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$83.00K	USD	3 Qtrs
Asset impairment	`AssetImpairmentCharges`	$556.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$1.24M	USD	3 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Gain on sale of former distribution center	`GainLossOnSaleOfFormerDistributionCenter`	$1.53M	USD	1 Quarter
Gain on sale of former distribution center	`GainLossOnSaleOfFormerDistributionCenter`	$1.53M	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-20.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$424.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.00M	USD	3 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$2.57M	USD	3 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$3.04M	USD	3 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$317.00K	USD	3 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-294.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.02M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-18.27M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.09M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.82M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-41.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.44M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.76M	USD	3 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.35M	USD	3 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.02M	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.95M	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.93M	USD	3 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-602.00K	USD	3 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-44.00K	USD	3 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.84M	USD	3 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.74M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.58M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$35.86M	USD	3 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$3.74M	USD	3 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.34M	USD	3 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$19.59M	USD	3 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$23.48M	USD	3 Qtrs
Proceeds from sale of former distribution center	`ProceedsFromSaleOfFormerDistributionCenter`	$2.94M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$9.09M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$7.83M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-21.33M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-24.63M	USD	3 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-294.00K	USD	3 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$317.00K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$44.00K	USD	3 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$653.00K	USD	3 Qtrs
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$1.50M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.19M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-903.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$7.06M	USD	3 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$10.32M	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.59M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$65.99M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$37.26M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$47.59M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$65.99M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$58.93M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$102.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$95.00K	USD	3 Qtrs
Cash payments of income taxes	`IncomeTaxesPaid`	$1.24M	USD	3 Qtrs
Cash payments of income taxes	`IncomeTaxesPaid`	$404.00K	USD	3 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$-78.00K	USD	3 Qtrs
Increase in accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$109.00K	USD	3 Qtrs

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