10-Q Filing

CITI TRENDS INC CIK: 1318484 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-005576`
Period End Date	20190430
Filing Date	20190610
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ctrn-20190504.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 28 Cash Flow Statement 61 Stockholders Equity 27

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$249.91M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$245.96M	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
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.98M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.45M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.85M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.83M	shares	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$43.13M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$50.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.10M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.16M	shares	Point-in-time
Inventory	`InventoryNet`	$139.84M	USD	Point-in-time
Inventory	`InventoryNet`	$131.25M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.02M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.54M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.67M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.75M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$225.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$217.89M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $249,909 and $245,958 as of May 4, 2019 and February 2, 2019, respectively	`PropertyPlantAndEquipmentNet`	$54.92M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $249,909 and $245,958 as of May 4, 2019 and February 2, 2019, respectively	`PropertyPlantAndEquipmentNet`	$56.22M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$133.60M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$149.12M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$8.88M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$7.78M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$7.08M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$6.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$749.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$745.00K	USD	Point-in-time
Total assets	`Assets`	$297.99M	USD	Point-in-time
Total assets	`Assets`	$437.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$73.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$64.20M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$41.03M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$13.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.31M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$8.14M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$12.75M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.55M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$395.00K	USD	Point-in-time
Layaway deposits	`ContractWithCustomerLiability`	$1.25M	USD	Point-in-time
Layaway deposits	`ContractWithCustomerLiability`	$526.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$130.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$102.37M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$141.00M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$115.12M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.84M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$110.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$247.00M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,848,609 shares issued as of May 4, 2019 and 15,827,713 shares issued as of February 2, 2019; 12,096,821 shares outstanding as of May 4, 2019 and 12,158,237 shares outstanding as of February 2, 2019	`CommonStockValue`	$157.00K	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,848,609 shares issued as of May 4, 2019 and 15,827,713 shares issued as of February 2, 2019; 12,096,821 shares outstanding as of May 4, 2019 and 12,158,237 shares outstanding as of February 2, 2019	`CommonStockValue`	$157.00K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$91.79M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$91.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$180.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$176.09M	USD	Point-in-time
Treasury stock, at cost; 3,751,788 shares held as of May 4, 2019 and 3,669,476 shares held as of February 2, 2019	`TreasuryStockValue`	$80.62M	USD	Point-in-time
Treasury stock, at cost; 3,751,788 shares held as of May 4, 2019 and 3,669,476 shares held as of February 2, 2019	`TreasuryStockValue`	$82.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$216.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$190.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$209.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$187.43M	USD	Point-in-time
Commitments and contingencies (note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$437.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$297.99M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$205.03M	USD	1 Quarter
Net sales	`Revenues`	$211.03M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$128.24M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$129.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$63.01M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$63.45M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.61M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.64M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.73M	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$379.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$295.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$38.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$37.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.07M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.29M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.60M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.79M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.30M	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.83	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.83	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.98M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.01M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$11.30M	USD	1 Quarter
Net income	`ProfitLoss`	$7.79M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.61M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.97M	USD	1 Quarter
Operating lease cost	`OperatingLeaseCost`	$11.78M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-29.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$290.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$153.00K	USD	1 Quarter
Noncash stock-based compensation expense	`ShareBasedCompensation`	$706.00K	USD	1 Quarter
Noncash stock-based compensation expense	`ShareBasedCompensation`	$584.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-12.37M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-8.59M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$678.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$477.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.17M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.63M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.37M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.90M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-4.60M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.91M	USD	1 Quarter
Income tax payable/receivable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.16M	USD	1 Quarter
Income tax payable/receivable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$2.31M	USD	1 Quarter
Layaway deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$770.00K	USD	1 Quarter
Layaway deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$729.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.90M	USD	1 Quarter
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$13.15M	USD	1 Quarter
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$13.67M	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$11.93M	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$4.83M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$1.98M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$2.29M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.03M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-238.00K	USD	1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$981.00K	USD	1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`CashUsedToSettleWithholdingTaxesOnStockOptionExercises`	$712.00K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$1.08M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$958.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.67M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.64M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.74M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.31M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.53M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.62M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.98M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.45M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.98M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.45M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$31.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$31.00K	USD	1 Quarter
Cash refunds of income taxes	`ProceedsFromIncomeTaxRefunds`	$25.00K	USD	1 Quarter
Cash refunds of income taxes	`ProceedsFromIncomeTaxRefunds`	$1.00K	USD	1 Quarter
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.03M	USD	1 Quarter
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$404.00K	USD	1 Quarter

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Dividends paid to stockholders	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Dividends paid to stockholders	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Balances	`StockholdersEquity`	$216.61M	USD	Point-in-time
Balances	`StockholdersEquity`	$190.55M	USD	Point-in-time
Balances	`StockholdersEquity`	$209.47M	USD	Point-in-time
Balances	`StockholdersEquity`	$187.43M	USD	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.85M	shares	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.83M	shares	Point-in-time
Adoption of lease accounting standard (see Note 11)	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-2.06M	USD	Point-in-time
Vesting of nonvested restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Vesting of nonvested restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$706.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$584.00K	USD	1 Quarter
Net share settlement of nonvested shares and restricted stock units	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$982.00K	USD	1 Quarter
Net share settlement of nonvested shares and restricted stock units	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$713.00K	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$2.67M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$1.64M	USD	1 Quarter
Dividends paid to stockholders	`DividendsCommonStock`	$958.00K	USD	1 Quarter
Dividends paid to stockholders	`DividendsCommonStock`	$1.08M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.79M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.30M	USD	1 Quarter
Balances	`StockholdersEquity`	$216.61M	USD	Point-in-time
Balances	`StockholdersEquity`	$190.55M	USD	Point-in-time
Balances	`StockholdersEquity`	$209.47M	USD	Point-in-time
Balances	`StockholdersEquity`	$187.43M	USD	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.85M	shares	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.83M	shares	Point-in-time

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