10-Q Filing

CITI TRENDS INC CIK: 1318484 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-006830`
Period End Date	20170731
Filing Date	20170828
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	ctrn-20170729.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 66 Cash Flow Statement 67

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$221.15K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$212.74K	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`	$39.61M	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.73M	shares	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$32.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.77M	shares	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$38.03M	USD	Point-in-time
Inventory	`InventoryNet`	$134.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.74M	shares	Point-in-time
Inventory	`InventoryNet`	$131.99M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.83M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	833,188.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.75M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.03M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.95M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$237.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$211.64M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $221,153 and $212,742 as of July 29, 2017 and January 28, 2017, respectively	`PropertyPlantAndEquipmentNet`	$63.80M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $221,153 and $212,742 as of July 29, 2017 and January 28, 2017, respectively	`PropertyPlantAndEquipmentNet`	$59.28M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$26.75M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$26.69M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.51M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$720.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$725.00K	USD	Point-in-time
Total assets	`Assets`	$332.51M	USD	Point-in-time
Total assets	`Assets`	$309.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$75.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$67.26M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$17.12M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.58M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$8.92M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$9.67M	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$471.00K	USD	Point-in-time
Layaway deposits	`CustomerAdvancesCurrent`	$1.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$100.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$95.85M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.51M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$108.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$104.55M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,773,322 shares issued as of July 29, 2017 and 15,732,339 shares issued as of January 28, 2017; 13,742,811 shares outstanding as of July 29, 2017 and 14,899,151 shares outstanding as of January 28, 2017	`CommonStockValue`	$155.00K	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,773,322 shares issued as of July 29, 2017 and 15,732,339 shares issued as of January 28, 2017; 13,742,811 shares outstanding as of July 29, 2017 and 14,899,151 shares outstanding as of January 28, 2017	`CommonStockValue`	$156.00K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$89.89M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$90.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$155.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$148.59M	USD	Point-in-time
Treasury stock, at cost; 2,030,511 shares held as of July 29, 2017 and 833,188 shares held as of January 28, 2017	`TreasuryStockValue`	$40.14M	USD	Point-in-time
Treasury stock, at cost; 2,030,511 shares held as of July 29, 2017 and 833,188 shares held as of January 28, 2017	`TreasuryStockValue`	$15.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$205.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$223.59M	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`	$309.66M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$332.51M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$348.95M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$166.20M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$155.28M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$366.15M	USD	2 Qtrs
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$102.17M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$224.56M	USD	2 Qtrs
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$95.15M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$212.96M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$114.44M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$59.83M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$120.32M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$56.10M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$8.74M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$4.59M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$8.89M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$4.29M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$77.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$77.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$221.00K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$-273.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.59M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$-475.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.30M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$215.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$135.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$401.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$262.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$37.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$74.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$81.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$41.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-179.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-297.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.63M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.78M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$3.95M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$-87.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-59.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.16M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-120.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$8.62M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-210.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$8.68M	USD	2 Qtrs
Basic net income per common share	`EarningsPerShareBasic`	$0.60	USD	2 Qtrs
Basic net income per common share	`EarningsPerShareBasic`	$0.59	USD	2 Qtrs
Basic net income per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.59	USD	2 Qtrs
Diluted net income per common share	`EarningsPerShareDiluted`	$0.59	USD	2 Qtrs
Diluted net income per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.55M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.63M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.38M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.68M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.68M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.60M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.38M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.64M	shares	2 Qtrs
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.06	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.12	USD	2 Qtrs
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.14	USD	2 Qtrs
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.08	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.08	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.08	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$8.62M	USD	2 Qtrs
Net income	`ProfitLoss`	$8.68M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$8.74M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$4.59M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$8.89M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$4.29M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$77.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$77.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	$221.00K	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-104.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$909.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.74M	USD	2 Qtrs
Insurance proceeds from operating activities	`InsuranceProceedsFromOperatingActivities`	$1.19M	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$1.69M	USD	2 Qtrs
Noncash stock-based compensation expense	`ShareBasedCompensation`	$752.00K	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$182.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-4.93M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-1.76M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.38M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.74M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$26.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.44M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-8.26M	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$783.00K	USD	2 Qtrs
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-561.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-4.89M	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$747.00K	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-315.00K	USD	2 Qtrs
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-624.00K	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.25M	USD	2 Qtrs
Layaway deposits	`IncreaseDecreaseInCustomerAdvances`	$1.33M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.01M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.98M	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$25.61M	USD	2 Qtrs
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$18.39M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$16.79M	USD	2 Qtrs
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$20.31M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$9.99M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$12.90M	USD	2 Qtrs
Insurance proceeds from investing activities	`InsuranceProceedsFromInvestingActivities`	$443.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.16M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.39M	USD	2 Qtrs
Excess tax benefits from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$182.00K	USD	2 Qtrs
Cash used to settle withholding taxes on stock option exercises and the vesting of nonvested restricted stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$894.00K	USD	2 Qtrs
Cash used to settle withholding taxes on stock option exercises and the vesting of nonvested restricted stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.53M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$2.06M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$1.75M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$24.95M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.10M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.91M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.06M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$490.00K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.61M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.20M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.25M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.12M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$39.61M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$30.20M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$49.25M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$39.12M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$63.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$63.00K	USD	2 Qtrs
Cash (refunds) payments of income taxes	`IncomeTaxesPaidNet`	$2.53M	USD	2 Qtrs
Cash (refunds) payments of income taxes	`IncomeTaxesPaidNet`	$3.87M	USD	2 Qtrs
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.38M	USD	2 Qtrs
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.02M	USD	2 Qtrs

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